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Brigade Enterprises surges over 3% as its arm forms JV with Cornerstone Bay

Brigade Enterprises shares jumped over 3 per cent on Monday after its wholly owned subsidiary-Mysore Projects has entered in to a Joint Development Agreement (JDA) with Cornerstone Bay East Developers (Land Owner).

By: | Updated: September 19, 2016 5:03 PM
Brigade Enterprises surges over 3% as its arm forms JV with Cornerstone Bay Brigade Enterprises shares jumped over 3 per cent on Monday after its wholly owned subsidiary-Mysore Projects has entered in to a Joint Development Agreement (JDA) with Cornerstone Bay East Developers (Land Owner).

Brigade Enterprises shares jumped over 3 per cent intraday on Monday after its wholly owned subsidiary-Mysore Projects has entered in to a Joint Development Agreement (JDA) with Cornerstone Bay East Developers (Land Owner). The agreement is to develop 47 acres at Varthur and Gunjur, Off Whitefield region, Bangalore which will have a developable area of around 5 million sq. ft.

At 12.05 pm, share price of the company was trading 2.58 per cent up at Rs 178.75. The scrip opened at Rs 178 and touched a high and low of Rs 180 and Rs 176.90, respectively. Later, the scrip settled 1.87 per cent up at Rs 177.50.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52-week-high of Rs 186.80 on Jun 17, 2016 and a 52-week-low of Rs 123.50 on Jan 13, 2016.

The promoters holding in the company stood at 56.29 per cent, while Institutions and Non-Institutions held 8.66 per cent and 35.05 per cent respectively.

Brigade Group is a real Estate player headquartered in Bangalore has over the past 29 years created many landmarks and innovative projects across South India. It offers property development, property management services, hospitality and education services. The firm develops luxury apartments, integrated enclaves, software and retail facilities, serviced residences, resorts, clubs, schools, hotels, a convention centre and hospitals.

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