Bengaluru: Real estate company Puravankara Ltd saw a sharp rise in its stock price during early trading on January 14. With no official news from the company, market watchers believe investor optimism and renewed interest in the realty sector are driving the surge.
Stock adds Rs 25+ in early trade
Puravankara opened at Rs 231.10 and quickly jumped to Rs 256.08 by 10:22 AM-up Rs 25.81 or 11.21 percent. It touched an intraday high of Rs 258 within the first hour of trade. This jump took the stock far above its previous close of Rs 230.27.
Valuation crosses Rs 6,000 crore
Thanks to the price rally, Puravankara’s market cap reached Rs 6,070 crore. The jump helped bring the stock closer to its 52-week high of Rs 361.85. Despite today’s strong move, the stock still trades well below its yearly peak, leaving room for further upside.
Investors expect realty boost
According to analysts, the rise could be due to investor confidence in the real estate sector’s recovery. Many mid-cap realty stocks have gained in recent weeks. While Puravankara hasn’t released any new announcement, buyers may be betting on strong future earnings or project launches.
What to watch next?
Market participants will watch if today’s price surge holds through the trading day and beyond. Any official update from the company could further support or change the sentiment. For now, Puravankara remains one of the top movers in the morning session.
Puravankara’s stock delivered strong early gains, riding on market momentum and investor confidence in realty. Traders will now watch if the rally sustains or cools off by the day’s close.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should do their own research or consult a professional before making investment decisions.
