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Why is RDB Industries' stock zooming?
The RDB Industries stock is up 348% in one month. Analysts say the reason for this is that RDB Industries is trying to encash on the current real estate boom.
The RDB Industries stock is up 348% in one month. Analysts say the reason for this is that RDB Industries is trying to encash on the current real estate boom.
RDB Industries is Kolkata based and is into cigarette manufacturing. It basically plans to foray into real estate to unlock value. The company is planning to set up two malls, one in Kolkata and one in Jaipur. The initial investment for the same is pegged at Rs 200 crore, Rs 100 crore each for the two malls. It has plans to set up around 50-60 malls across India later.
The company is currently sitting on a 8 million sq ft land. This is from its earlier acquisition of NTC Cigarette Mills in the late 90's. Then RDB Industries had shelled out Rs 18 crore for this acquisition. Currently, the mill land is valued at Rs 500 crore.
Due to this, the valuation per share works out to around Rs 780, which is a huge premium to its current market price of Rs 80.25 per share.
The company is currently sitting on a 8 million sq ft land. This is from its earlier acquisition of NTC Cigarette Mills in the late 90's. Then RDB Industries had shelled out Rs 18 crore for this acquisition. Currently, the mill land is valued at Rs 500 crore. 
