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Shares of Eraaya Lifespaces will be in focus on Wednesday as company has fresh acquisitions worth Rs 500 million. The counter closed at Rs 519.45, which is also the 52-week high. The scrip of Eraaya Lifespaces, which has market cap of Rs 785.57 crore, have a 52-week low of Rs 10.46.
Out of Rs 500 million, the company has invested Rs 30 million in the acquisition of a luxury Staycation property at Lonavala and the remaining Rs 470 million for the acquisition of commercial retail spaces in the largest mall located near the International Airport at Mohali, the satellite city of Chandigarh.
“Situated amidst the lush greenery of the Western Ghats and conveniently located near major urban centres like Mumbai and Pune, Lonavala is a populardestination for weekend getaways and leisure trips. The serene surroundings, pleasant climate, and range of recreational activities make it an ideal location for a luxury Staycation property. Eraaya Lifespaces’ investment in a Luxury Cottage located at the pristine allows it to cater to the demand from urban dwellers seeking a luxurious escape from city life without having to travel far,” the company said.
Meanwhile, Equity benchmark indices Sensex and Nifty closed higher for the third session in a row on Tuesday, following gains in telecom, tech and consumer durable shares amid a firm trend in the global markets.
However, rising global crude prices and renewed foreign capital outflows amid geopolitical tensions restricted the markets’ appreciation bias, traders said.
After rallying over 400 points, the 30-share BSE Sensex ended 89.83 points or 0.12 per cent higher at 73,738.45. During the session, it jumped 411.27 points or 0.55 per cent to 74,059.89.
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