In a separate regulatory filing, DIC India
had said that its board has approved the sale of land. "The consideration of this land parcel is up to Rs 153 crore to be paid in three tranches," it said.
On Thursday, DIC India
informed the exchanges that "the registration of the land has been completed in favour of Godrej Properties
on 18 June 2020. The company has received the first tranche of Rs 102.5 crore upon registration."
At 9:55 AM, the stock was up 12.05 per cent at Rs 347.35 on the BSE as compared to a flat Sensex. A combined 25,000 shares have changed hands on the NSE and BSE so far.
Following the development, shares of Godrej Properties also rose as much as 3.32 per cent to Rs 852 on the BSE.