Bharat Agri Soars 9% as Thane Housing Project Receives Approval

20 Jun 2023 , 11:36 AM

Bharat Agri Fert & Realty Ltd’s shares surged by 9 % in early trade on June 20 following the company’s announcement of receiving sanction for a housing project in Thane, Maharashtra.

In the early trade, the stock of Bharat Agri was trading 7.56 % higher at Rs 128 on NSE.

The company informed the exchanges that it obtained development sanction from the Thane Municipal Corporation for the construction project named ‘Shiv Sai Paradise, Phase 11, Majiwada.’ The project consists of a G tower, which includes the basement, ground, 1st to 6th parking floors, and 7th to 31st floors of 2/3 BHK homes.

According to the company’s filing with BSE on June 19, the management anticipates an additional net revenue of Rs 700-800 crore over the span of five years from this project.

As per data, Over the past six months, Bharat Agri Fert & Realty stock has witnessed a gain of 37.51 % (Approximately), outperforming the Nifty50 benchmark index, which recorded a return of only 1.76 % during the same period

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