14 Jan 2022 , 09:41 AM
Ruby Mills Ltd stocks rallied in the dull market after it has obtained renewed Occupation Certificate (OC) including for upper floors of “The Ruby” tower at Dadar, Mumbai.
The building which was earlier approved under the Development Control Regulations 1991 is now converted under the current regulations i.e. Development Control and Promotion Regulations 2034. The Company has made payment of requisite premium to the Municipal Corporation of Greater Mumbai (MCGM) and the State Government.
"This shall enable the company to unlock the real estate value of the tower. At this stage, the Company cannot estimate the revenue to be generated," said company in a regulatory filing.
At around 9:32 AM, Ruby Mills was trading at Rs310 per piece up by Rs9.9 or 3.3% from its previous closing of Rs300.10 perpiece on the BSE.
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