Nomura said that the firm's long-term visibility is very positive on the development potential of its ~40-acre prime Worli land parcel
The upbeat sentiment comes after the Aditya Birla Group-owned company acquired the ownership rights of an approximately 10-acre leasehold land parcel in Worli, Mumbai
With this transaction, the existing leasehold interest of Century Textiles is merged with the ownership rights. The ten acre land parcel has a booking value potential of Rs 14,000 crore
Century Textiles and Industries issued a corporate guarantee valued at Rs 400 crore in favour of Hindalco Industries.
Century Textiles' arm - Birla Estates is also unleashing a rapid expansion in the NCR market. This acquisition adds to its already under work projects in Golf course extension road, Sector 31 in Gurugram and Mathura Road in Delhi.
Despite the volatile moves in trade, the two benchmarks Sensex and the Nifty managed to extend their rebound to the second session, albeit off their day's highs. PSU and other sectors hammered during the June 4 market meltdown also staged a solid comeback.
Century Textiles arm- Birla Estates entered a JV for a luxury housing project in Gurugram which spans across 13.27 acres, with a development scope for around 2.4 million square feet.
Century Textiles' total income for Q2 from operations rose to Rs 1,242.11 crore from Rs 1,034.27 crore in the corresponding period of the previous year.
The company's Managing Director J C Laddha attributed the strong numbers to the high operational efficiency and improved market demand.
Mindspace REIT listed with a double digit premium at Rs 304 on the BSE and closed at Rs 303.87, a 10.5 percent premium over issue price of Rs 275 per unit
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 17 points loss or 0.14 percent. The Nifty futures were trading around 12,077-level on the Singaporean Exchange.
Upmove is likely to continue as FIIs seem to be upbeat on the Indian economy and major inflow is expected from them in coming days
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 13.5 points or 0.12 percent. Nifty futures were trading around 10,929-level on the Singaporean Exchange.
Level of 10780 – 10700 will act as an immediate support whereas on the higher side, 10990 – 11070 will be a near-term resistance for the index.
The Nifty rollovers stand at 71 percent which is higher than the 3-month average of 68 percent, but lower than November series rollover of 75 percent.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Biocon, LIC Housing and Voltas and can sell TVS Motor, Century Textiles and Interglobe Aviation.
Ashwani Gujral of ashwanigujral.com recommends buying EIL, IndusInd Bank, Karnataka Bank, ICICI Bank, LIC Housing Finance and Century Textiles.
Ashwani Gujral of ashwanigujral.com recommends buying Tech Mahindra with a stop loss of Rs 588, target of Rs 620, a buy on NIIT Tech with a stop loss of Rs 788, target of Rs 825 while a sell call on Century Textiles with a stop loss of Rs 1190, target of Rs 1130.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Sonata Software and can sell JSPL and HDIL.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Raymond and Titan Company and can buy Biocon.
"The weekly Bearish Engulfing pattern is still intact. Considering the evidence, we reiterate our cautious view on the index and expect it to correct in the near term," says Aditya Agarwal, Head Technical Research, Way2Wealth Brokers Pvt. Ltd.
Textile stocks like Raymond, Bombay Dyeing, Sutlej Textiles, Century Textiles and Arvind will get astrological support, says Satish Gupta of astrostocktips.
The market breadth was in favour of the declines on Tuesday morning with 780 stocks advancing as against 844 declines while 378 remained unchanged. On the other hand, 1222 stocks advanced and 1149 stocks declined while 76 remained unchanged on the BSE.
Ashwani Gujral of ashwanigujral.com recommends buying Avanti Feeds, Century Textiles and Titan Company.
Raymond, Arvind, Indo Count and Century Textiles will get astrological support, says Satish Gupta of astrostocktips.