Bharat Agri jumps 9% on nod to housing project in Thane

Shares of Bharat Agri Fert & Realty Ltd jumped 9 percent in early trade on June 20 after the company informed exchanges that it got the sanction for a housing project in Maharashtra’s Thane . At 9:57 am the Bharat Agri stock was trading 7.56 percent higher at Rs 128 on NSE.

“We are pleased to announce that the company has received the sanction of development from Thane Municipal Corporation for the construction project “Shiv Sai Paradise, Phase 11, Majiwada for G tower – Basement + Ground + 1st to 6th Parking Floor + 7th to 31st Floor of 2/3 BHK homes,” the company said in filing with BSE on June 19

The filing said the company management expected an additional net revenue of Rs700-800 crore over five years.

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Bharat Agri Fert & Realty stock has gained 37.51 percent over the past six months, outperforming the Nifty50 benchmark index, which has given a return of only 1.76 percent over the same period.

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