HUDCO buiilds up

Housing and Urban Development Corporation Limited (HUDCO) had some good news to share yesterday. It signed a Memorandum of Understanding (MoU) with NBCC (India) and this is for development of a land parcel of 10 acres, owned by HUDCO at NOIDA.

HUDCO, on the said land, intends to create an Institutional complex with world class amenities which is likely to have 8.71 Lakh sq ft. of built-up area with a mix of office space, studio apartments, conference space and retail & common facilities. NBCC will undertake the execution of the said project with the scope of Concept-to-Commissioning.

The market has given a big thumbs up to this news as the stock figures among the top five gainers on the BSE since the opening bell today; from its close of Rs.220.60, it opened at Rs.223.40 and rose to an intraday high at Rs.239.70, where it is currently trading. Its 52-week high stands at Rs.139.90.