Raymond-led Ten X Realty to redevelop residential project in Mumbai; Stock gains over 3%

19 Jan 2022 , 02:10 PM

Ten X Realty Limited, the step-down wholly-owned subsidiary of Raymond Limited, has signed a binding term sheet for the joint redevelopment of a residential project in the western sub-urban district of Mumbai.

The project is estimated to have, in aggregate, the revenue potential of around Rs2,000cr over a period of the next 5 years. This is in line with the Company’s growth plan to expand its Realty horizons beyond Thane.

At around 2.12 pm, Raymond Ltd was trading at Rs760 per share up by Rs24.7 or 3.36% from its previous closing of Rs735.30 per share on the BSE.

The scrip opened at Rs736.15 and has touched a high and low of Rs794.80 and Rs736.15 respectively.