Why Omaxe shares rise on June 16, 2025?
Omaxe shares saw a rise in value on Monday, June 16, 2025, as they climbed 14.26% to reach an intraday high of Rs 107.98 per share.By 1:45 PM, the shares maintained a robust increase of 11.69%, trading at Rs 105.55 per share. This performance notably outpaced the BSE Sensex, which was only up by 0.82% at 81,779.79 levels. Omaxe shares have gained 31.51% in the past month, and were trading at Rs 106.26, up over 11% at the time the articl was being written. advertisement
The surge in Omaxe's share price can be attributed to the company's announcement of a new integrated township project named New Amritsar. The development, located on GT Road and just 12 minutes from the Golden Temple, spans 260 acres.The first phase will develop 127 acres with an investment exceeding Rs 1,000 crore. This announcement is a key part of Omaxe's strategy to expand its footprint in Punjab, where it has already established operations in six cities, including New Chandigarh and Ludhiana.The project is expected to enhance the company's portfolio and attract more investors, given its promising location and scale. The New Amritsar project is set to benefit from several ongoing infrastructure developments, such as the Delhi-Amritsar-Katra Expressway and the Amritsar Ring Road, which are expected to enhance connectivity.advertisementThe city's airport is also undergoing a 300 crore expansion. This strategic positioning, coupled with the securing of financial closure and official approvals, has bolstered investor confidence in the project's potential.The comprehensive planning and approval process ensures that the project aligns with regulatory standards, further reassuring potential buyers and stakeholders. These infrastructure improvements are anticipated to boost the area's economic growth.
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