Share price of Mumbai-based real estate developer Godrej
Properties gained more than 3 percent intraday Thursday as company is going to
develop new luxury residential project in Mumbai.
The company in its press release said that it has entered
into a joint venture with a renowned developer to develop a 4.25 acres
sea-facing property in the prime suburban micro-market of Bandra West, Mumbai.
The project will offer approximately 1 lakh square meters
(approximately 1.1 million square feet) of saleable area and will be developed
as a luxury residential project, it added.
Pirojsha Godrej, Executive Chairman, Godrej Properties said,
“We are happy to add this exciting new project to our development
portfolio. This project addition fits well with our strategy of building our
presence across the country’s leading real estate markets.”
At 10:48 hrs Godrej Properties was quoting at Rs 913.30, up
Rs 21.85, or 2.45 percent on the BSE
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On the hourly charts, Albert David Limited has given
breakout out from a higher highs-higher lows chart pattern, and it is
continuously sustain above the level of 420 with higher volume and will take
the stock higher to levels of 449. It had taken support at the 23.8% Fibonacci
retracement level 415.
The RSI has formed a positive reversal indicating higher
levels in the coming trading sessions. We recommend traders to take long
positions in ALBERTDAVD around 422-424 for the targets of 435-445, with a stop
loss below 404.
•Diversified group Raymond on April 3 announced foray into
the real estate sector and launched its first housing project in Mumbai with an
expected revenue of Rs 3,500 crore.Raymond Realty, the new division of the
group, will develop a 14-acre housing project at Thane in Mumbai.
it’s almost a given that the Reserve Bank of India (RBI) will deliver a policy
rate cut when the three-day Monetary Policy Committee meeting ends on April 4,
hopes are high that the central bank will also do more to address liquidity
On March 29, the liquidity deficit widened to a one-month
high of Rs 1.13 lakh crore, mostly due to the financial year-end outflows. It
is likely to continue to be in deficit owing to the high demand for currency in
circulation ahead of the general elections.