Shares of Century Textiles and Industries rose over 5% in early trading on Tuesday. This rise followed the announcement that its wholly owned subsidiary, Birla Estates, is set to expand in the NCR region with a strategic land acquisition in Sector 71, Gurugram.
The 5-acre plot offers a development potential of about 10 lakh square feet. It is expected to generate revenue exceeding Rs 1400 crore through luxury residential homes. Birla Estates is the real estate arm of the Aditya Birla Group.
Century Textiles shares increased by 8%, reaching Rs 2270.40 on Tuesday, up from the previous close of Rs 2100.70 on the BSE. The company’s market cap climbed to Rs 24,539 crore.
A total of 0.22 lakh shares of the firm were traded, amounting to a turnover of Rs 4.94 crore. The stock has risen 129% in a year and 776% in two years, delivering significant returns during this period.
As of 11:13 AM the shares were trading 5.11% higher at ₹2,208.85 on NSE.
