Real Estate

Akruti City Buy Call

Stock market analyst Hitendra Vasudeo of stockmechanics.com has suggested traders to purchase Akruti City stock today.

According to him, the stock can be purchased above Rs 1308 with a stop loss of Rs 1225 to achieve an intraday target of Rs 1398.

The stock could easily retest its next intraday target of about Rs 1558, if the stock market remains positive.

On Monday (4 Feb), Akruti City stock closed at Rs 1,270.60 on BSE. The stock has seen a 52-week high of Rs 1399 and a low of Rs 322 on BSE.

Parsvnath Developers Buy Call

As per the technical charts, the day traders can purchase Parsvnath with a stop loss of Rs 283 to achieve an intraday target of Rs 294. The stock has down support of Rs 277.

If the stock market remains positive, the Parsvnath stock could easily touch its next intraday target of about Rs 301.

The company’s stock, on Monday (4 Feb), marked its closure at Rs 287.20 on BSE. The stock has seen a 52-week high of Rs 598 and a low of Rs 221.6 on BSE.

Prajay Engineers Allots 4, 24,211 Equity Shares To ABN Amro Bank

Prajay Engineers Syndicate Limited has announced that the company at its Allotment Committee meeting held on 25th January 2008, allotted 4,24,211 equity shares to ABN Amro Bank NV, London, on conversion of 190 FCCBs

At its Allotment Committee meeting held on January 21, 2008, the company has also allotted 4,46,538 equity shares to the Foreign Institutional Investors on conversion on FCCBs.

DLF Signs MoU With Gayatri For Road Project

India’s biggest realty developer, DLF has signed up a memorandum of understanding (MoU) with the infrastructure company Gayatri Projects Ltd (GPL) to construct roads, highways and bridges crosswise the country.

Both the companies have planned to develop projects worth Rs 5,000-10,000 crore in the next few years.

Rajeev Talwar, DLF group executive director said, “This is a joint venture between DLF and Gayatri, with 50:50 per cent stake.”

Hindustan Construction Bags Order Worth Rs 3.75 Bn

Mumbai-based construction firm Hindustan Construction Company has informed the National Stock Exchange (NSE) that it received a letter of acceptance (LoA) for project worth Rs 3.75 billion.

The contract includes execution of civil works for underground rock cavern for strategic storage of crude oil at Visakhapatnam, Andhra Pradesh.

The project is likely to be finished within 36 months from the date of issue of this letter of acceptance.

The contract was granted by the Indian Strategic Petroleum Reserves, New Delhi.

Parsvnath Developers Buy Call

Parsvnath Developers has informed the exchange that the company has been awarded Rs 90 crore contract to build SAI ASHRAM at SHIRDI.

The stock has touched an all time high of Rs 598 today. The intraday range for the stock has been Rs. 520 – 598.

Hindustan Construction Bags Order Worth Rs. 298 Crore

Hindustan Construction Company (HCC), a leading infrastructure construction and development Company has bagged a contract worth Rs 297.51 crore in a joint venture with Alpine Mayreder, Austria from Delhi Metro Rail Corporation (DMRC). HCC is a partner in the joint venture and has a 49% share of the value (Rs 145.78 crore).

HCC has rich expertise in building major metro railways projects in India, specifically having built India's first metro in Kolkata and more recently in New Delhi.

DLF Sells 49 % Equity Stake In Seven Housing Projects To Merrill Lynch

DLF Ltd, real estate major has announced that the company has attracted participation of private equity real estate funds in its township projects by selling 49 % equity stake in seven housing projects to a Merrill Lynch & Co. for Rs. 1481 crore.

The mid-income housing projects, located in Chennai, Banglore, Kochi and Indore would get fully developed in about 7 - 8 years time frame.

DLF To Buy Amanresorts For $ 250 Million

According to the reports, India's top real estate company DLF is close to acquiring Singapore-based luxury resorts and spa chain Amanresorts for around USD 250 million. This will be the first overseas acquisition by the Indian Real Estate Company.

Sources close to developments reported that at $250 million, the deal is being concluded at an extremely conservative valuation.

Last month, DLF had said that it had planed to raise USD 750 million overseas for acquiring and developing properties abroad.