Oberoi Realty builds up

Oberoi Realty is the top gainer in the realty sector pack today, outperforming the sector by almost 12%. Apart from the RBI measures, the stock is up after it announced that it has prepaid Rs 125 crore debt with interest amount before the due date. Now that is a rare gem in today’s time!

The company stated that, through its wholly owned subsidiary, Incline Realty Pvt. Ltd. It yesterday prepaid 125 listed non-convertible debentures (NCDs) of Rs.1 crore each, aggregating Rs.125 crore, along with interest due.

The scheduled date of repayment was 23rd April 2020.

The stock price has obviously reacted positively to this news; it opened over 4.5% higher at Rs.358 and went to touch the 20% UC of today at Rs.410.45. The stock is now traded at Rs.398 levels.