Sensex 27828.44 321.73 (1.17%)29-May-15 16:00
Nifty 8433.65 114.65 (1.38%)29-May-15 00:00
Mukesh Ambani-led Reliance Industries (RIL) is planning to acquire Hotel Leelaventure’s business park in Chennai to house its headquarters for its 4G operations, according to reports.
Vivek Nair, vice-chairman and managing director, Hotel Leelaventure reported, “The deal has been finalised with RIL for Rs1.72bn and we are just waiting for the documents to be exchanged.”
The Leela business park is part of the 6-acre land that also houses a 11-storeyed hotel – the Leela Palace with 326 rooms and suites, says report
There are reports that the property with the business park is situated on seafront with Chennai’s main business district in close proximity.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices