&w=3840&q=100)
Purvankara share price zooms over 7% as subsidiary bags deal worth ₹272 cr
Puravankara share price: Puravankara share was buzzing in trade in an overall muted session on Thursday, June 19, 2025, with the scrip rallying up to 7.45 per cent to hit an intraday high of ₹301.10 per share.
However, by 10:37 AM, Puravankara shares were off day's high, and were trading 3.28 per cent higher at ₹289.40 per share. In comparison, BSE Sensex was trading flat with a negative bias at 81,419.45 levels.
Why did Puravankara share price jump in trade today?
Puravankara share price zoomed after the company announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction, secured a letter of intent (LoI) worth a little over ₹272 crore from TRU Dwellings Private Limited.
In an exchange filing, Puravankara said, 'We write to inform you that M/s. Starworth Infrastructure & Construction Limited which is the Wholly Owned Subsidiary of Puravankara Limited, has received a Letter of Indent for Civil and Finishes Works for the proposed Residential Apartment at 'TRU AQUAPOLIS' in Varthur, Bengaluru for M/s. Tru Dwellings Private Limited'.
Under the terms of the deal, Puravankara will be responsible for civil and finishes works for the proposed Residential Apartment at 'Tru Aquapolis' in Varthur, Bengaluru for TRU Dwellings. Track LIVE Stock Market Updates
About Puravankara
Puravankara Limited, based in Bengaluru, is among India's top real estate developers. Established in 1975, the company has built a legacy of over 50 years, delivering high-quality homes with a strong focus on timely delivery, transparency, and innovation.
To serve diverse customer needs, Puravankara operates through three key brands. The flagship Puravankara brand focuses on premium, technologically advanced residences. Provident Housing Limited, launched in 2008 as a wholly-owned subsidiary, caters to the mid-income housing segment. In 2021, the group introduced Purva Land, specialising in plotted developments to meet evolving investment preferences.
The company's construction arm, Starworth Infrastructure and Construction Limited (SICL), delivers technology-enabled construction solutions. Puravankara has also expanded into commercial office spaces, strengthening its presence across the real estate value chain.
With operations in cities such as Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, and Mangaluru, Puravankara was among the first Indian real estate companies to secure Foreign Direct Investment (FDI). It has so far delivered over 86 residential and commercial projects, covering more than 50 million square feet of development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
12 minutes ago
- Mint
Stock market today: Trade setup for Nifty 50, global markets to Israel-Iran news; eight stocks to buy or sell on Friday
Stock Market Today: The benchmark Nifty-50 index ended 0.08% lower on Thursday at 24,793.25, as consolidation in the market continues. While Bank Nifty at 55,577.45 ended 0.45% lower, most other sectors, led by Metals, Realty, and Oil & Gas, ended lower. In the broader markets, deep cuts of up to 2% were seen by mid- and small-cap indices. "The Nifty witnessed a lacklustre expiry on the NSE, as the index remained within a narrow range throughout the session, indicating indecisiveness ahead of any directional move. This negative sentiment is likely to persist as long as the index remains below 24,850. On the downside, support is seen at 24,550, as per Rupak De, Senior Technical Analyst at LKP Securities. As per Bajaj Broking, a sustained breakout and close above the 56,000 psychological mark are crucial for further upside for Bank Nifty. Indian equities exhibited volatility as markets tracked intensified attacks between Iran and Israel, cautious commentary from US Fed, and the looming deadline for levy of US reciprocal tariffs, said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd. Overall, Khemka expects the market to remain in consolidation mode, following the global market cues and developments on the geopolitical front, while there could be heightened volatility in case of further escalation in the Israel-Iran conflict. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager, Technical Research at Prabhudas Lilladher, has given three stock picks. These include Wipro Ltd, Eicher Motors Ltd, AXIS Bank Ltd., Federal Bank Ltd., Tata Chemicals Ltd., Sterlite Technologies Ltd., Aegis Logistics Ltd., and MTAR Technologies Ltd. 1. Wipro Ltd.—Bagadia recommends Buy WIPRO at around ₹ 265.60, keeping Stoploss at ₹ 256 for a target price of ₹ 285 WIPRO is currently trading at ₹ 265.60 and continues to exhibit strong bullish momentum, as reflected by its steadily rising price structure and consistent upward swing pattern. On the daily timeframe, the stock has formed a bullish candlestick and is nearing a breakout from its recent consolidation phase. A decisive move above the ₹ 270 resistance level would further validate the ongoing reversal pattern and signal a potential continuation of the uptrend. 2. Eicher Motors Ltd.—Bagadia recommends buying EICHERMOT at around ₹ 5493.5, keeping Stoploss at ₹ 5300 for a target price of ₹ 5880 EICHERMOT is currently trading at ₹ 5,493.5, having rebounded from a key support level. The stock has formed a bullish candlestick pattern on the daily timeframe and has successfully broken out of a consolidation zone, surpassing the major resistance level at ₹ 5,480. This breakout confirms a potential trend reversal, further validated by a significant surge in trading volumes, indicating strong buying interest. 3. AXIS Bank Ltd.—Dongre recommends buying Axis Bank at ₹ 1218, keeping stop-loss at ₹ 1190 for a target price of ₹ 1250. A short-term trend analysis of the stock reveals encouraging technical signals that suggest a potential bullish reversal. On the short-term chart, a prominent bullish engulfing candlestick pattern has emerged, signaling a shift in momentum from selling pressure to buying interest. Adding strength to this view, the Relative Strength Index (RSI) has recently entered the oversold zone, indicating that the stock may be poised for a rebound from current levels. 4. Federal Bank Ltd.-Dongre recommends buying Federal Bank or FEDERALBNK at around ₹ 203, keeping Stoploss at ₹ 197 for a target price of ₹ 215 In the recent short-term trend analysis, the stock has shown signs of a potential bullish retracement, supported by emerging technical indicators. A reversal pattern on the chart suggests the possibility of an upward move, with a near-term target around ₹ 215.5. 5. Tata Chemicals Ltd.—Dongre recommends buying Tata Chemicals, or TATACHEM, at around ₹ 910, keeping Stoploss at ₹ 890 for a target price of ₹ 945. A recent short-term analysis of the stock reveals the emergence of a bullish reversal pattern on the chart, indicating a possible near-term price rebound. This formation suggests the potential for a move towards the Rs.945 level, supported by improving price action. 6. Sterlite Technologies Ltd.—Koothupalakkal recommends buying Sterlite Technologies at around ₹ 107 for a target price of ₹ 116, keeping a stop loss ₹ 104. The stock, after witnessing the decent spurt recently, has once again triggered a fresh round of momentum with huge volume participation visible at the fag end of the session to anticipate a further rise in the coming sessions. The stock has maintained above the important 200-period MA at the 102 level, and with positive bias sustained, we can expect further gains. With the chart technically looking strong, we suggest buying the stock for an upside target of ₹ 116, keeping the stop loss at the the ₹ 104 level. 7. Aegis Logistics Ltd.—Koothupalakkal recommends buying AEGIS LOGISTICS at around ₹ 800 for a target at ₹ 840, keeping Stop loss: 782 The stock has indicated a spurt with a bullish candle formation on the daily chart after the consolidation period near the 200-period MA at the ₹ 785 level and has improved the bias to expect further upward movement in the coming sessions. The RSI has indicated a positive trend reversal to signal a buy after remaining flat for quite some time, and with much upside potential visible, it can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock. 8. MTAR Technologies Ltd.—Koothupalakkal recommends buying MTAR TECH at around ₹ 1719 for a target price of ₹ 1800, keeping stop loss at ₹ 1684 The stock has recently witnessed a decent pullback, with the current candle once again indicating a positive bullish candle with huge volume participation visible to improve the bias and expect further rise. The RSI has corrected from the overbought zone and is currently well placed with upside potential visible and will continue with the positive move in the coming sessions. With the chart looking good, we suggest buying the stock for an upside target of the ₹ 1800 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
21 minutes ago
- Time of India
Will eased KYC norms revive foreign investment in Indian sovereign bonds?
Mumbai: India's regulatory latitude on compliance and KYC norms for foreign funds buying only sovereign bonds is expected to burnish the allure of an asset class already featuring in global gauges, although an immediate halt to recent outflows would require worldwide rate dynamics and geopolitical risks to settle in favour of the emerging markets. "Considering that the Indian economy is growing and the market is coming up the maturity curve with inclusion in global indices, it is quite logical for making the investing route easier for FPIs," said Divaspati Singh, partner at Khaitan & Co. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chi phí cấy ghép răng là bao nhiêu vào năm 2025 (kiểm tra giá) Cấy ghép răng | Quảng cáo tìm kiếm Tìm hiểu thêm Undo According to a senior official at a foreign bank, there has been a long-pending demand to ease the operational issues around reporting and KYC. On Wednesday, Sebi approved the proposal to relax certain regulatory requirements for all existing and prospective foreign portfolio investors that exclusively invest in G-Secs. Bonds Corner Powered By Will eased KYC norms revive foreign investment in Indian sovereign bonds? India's relaxation of KYC norms for foreign funds investing solely in sovereign bonds aims to enhance the appeal of this asset class, already included in global indices. While easing operational issues is a welcome step, an immediate reversal of recent outflows hinges on favorable global rate dynamics and reduced geopolitical risks. Experts anticipate long-term benefits for FPI participation in G-secs. India's Larsen & Toubro may explore another ESG bond issue after debut attracts premium, spokesperson says Indian bond yields marginally higher; focus on oil, debt supply Sebi eases norms for foreign investors who only buy government bonds Lending yields set to shrink in FY26 as banks play it safe Browse all Bonds News with Overseas investors have been shedding Indian bonds of late. Easing of the KYC norms are unlikely to lead to an immediate trend reversal. "While this may not see a sudden spurt of inflows, it does make life easier for FPIs participating only in G-secs," Singh said. An overseas banker expects long-term benefits from Sebi's move. Live Events
Mint
22 minutes ago
- Mint
Recommended stocks to buy today, 20 June, by India's leading market experts
On June 19, Indian stocks closed slightly lower in a choppy session, with the Nifty 50 slipping below 24,800 as most sectors—auto being the lone exception—saw selling pressure. The market opened flat-to-negative and spent the day trading in a tight band, buffeted by mixed global cues after the US Federal Reserve held rates steady but warned of higher inflation and slower growth ahead. Mounting geopolitical strains in the Middle East further dampened sentiment. By the bell, the Sensex had lost 82.79 points (0.10%) to end at 81,361.87, while the Nifty dropped 18.80 points (0.08%) to finish at 24,793.25. Broader gauges underperformed, with the BSE Midcap and Smallcap indices each sliding over 1.5%. Top 3 stocks recommended for today by Ankush Bajaj Why it's recommended: Eicher Motors recently broke out above the upper trendline of a falling wedge pattern on the daily chart, a bullish reversal formation suggesting the end of a prior downtrend. This breakout, combined with the RSI nearing 60, indicates growing bullish momentum. The stock is showing strength with a clean breakout structure, signaling potential for near-term upside. Key metrics Resistance level: ₹5,590 (short-term target) Support level: ₹5,445 (pattern invalidation level) Pattern: Falling wedge breakout on the daily chart RSI: Approaching 60 on daily chart, indicating strengthening bullish momentum Technical analysis: The breakout from the falling wedge pattern adds weight to the bullish outlook. The RSI moving toward 60 supports the idea of momentum building up for a further upside. Price action is strong post-breakout and the stock is attempting to establish a higher base. Watch for increasing volume to confirm breakout validity. Risk factors: Although the RSI is not overbought, a rapid rise could lead to brief consolidations or pullbacks. A drop below ₹5,445 would invalidate the breakout, potentially attracting sellers. Volume follow-through remains crucial for confirming strength beyond the breakout level Buy at: ₹5,493.50 Target price: ₹5,590 Stop loss: ₹5,445 Also read: Why some Indian companies are paying dividends despite posting losses Why it's recommended: Bharti Airtel is showing signs of bullish momentum with the RSI at 58 on the daily chart and trending upward, indicating improving strength in the current move. On the 45-minute timeframe, the stock is forming a triangle pattern and is poised for a breakout. If it sustains above ₹1,880, a sharp move up is anticipated. Key metrics: Resistance level: ₹1,898- ₹1,904 (short-term target) Support level: ₹1,860 (pattern invalidation level) Pattern: Triangle breakout setup on lower timeframe (45-min) RSI: Rising toward 60 on the daily chart, showing a strengthening bullish trend. Technical analysis: The convergence of a rising daily RSI and a triangle breakout setup on the lower timeframe supports a bullish outlook. Sustained movement above ₹1,880 will confirm the breakout, with potential for a quick move toward the ₹1,900+ zone. Price structure remains strong, and buyers appear to be stepping in around key support zones Risk factors: While the RSI is still below overbought levels, a breakout failure below ₹1,860 would invalidate the setup and could lead to short-term weakness or consolidation. Volume confirmation near ₹1,880 is key to validating the breakout attempt. Buy at: ₹1,877.00 Target price: ₹1,898- ₹1,904 Stop loss: ₹1,860.00 Also read | The honest taxpayer's dilemma: When rules become a disadvantage in investing Why it's recommended: M&M is exhibiting strong bullish momentum, with the RSI at 59 on the daily chart, indicating a steady upward trend. On the lower timeframe, the stock has broken out of a triangle pattern, which suggests the end of consolidation and the start of a new leg higher. If this breakout holds, further upside toward the ₹3,200+ zone is expected. Key metrics: Resistance level: ₹3,200– ₹3,225 (short-term target) Support level: ₹3,028 (pattern invalidation level) Pattern: Triangle breakout on lower timeframe RSI: At 59 on daily chart, indicating bullish momentum building. Technical analysis: The triangle breakout in lower timeframes complements the daily chart's bullish RSI structure. The stock is trading with strong price action and has potential for continuation if it maintains above the breakout level. Momentum indicators support further upside, especially if volume confirms the move Risk factors: While the RSI is rising, a pullback may occur if the price fails to hold above the breakout level. A break below ₹3,028 would invalidate the setup and may lead to short-term downside pressure. Watch for volume confirmation to support the bullish move. Buy at: ₹3,094.80 Target price: ₹3,200– ₹3,225 Stop loss: ₹3,028.00 Here are two stocks to trade today, as recommended by Trade Brains Portal Target price: ₹405 in 16-24 months Stop loss: ₹320 Why it's recommended: Founded in 1978, Biocon Ltd is the top biopharma firm in India, improving the lives of people in more than 120 countries by developing novel and cost-effective treatments for cancer, diabetes, and autoimmune diseases. The company employs more than 18,200 people who work in the research services, biosimilars, generics, and new biologics divisions. The largest integrated insulin manufacturing and research and development facility in Malaysia is operated by Biocon, which also contains one of the biggest biomanufacturing facilities for insulin, monoclonal antibodies, and devices. The group's four incubated businesses are Biocon Biologics, which focuses on biosimilars and accounts for 58% of total revenue in FY25; the generics division, which contributes 19%; and Syngene, which provides research services and accounts for 23% of total revenue in FY25. When comparing the performance on a like-for-like basis, revenue from operations totalled ₹15,262 crore, a 10% year-on-year increase; Ebitda reached ₹4,374 crore with a margin of 27%, and the net profit in FY25 was ₹1,013 crore, which represents a significant turnaround. The company has launched several new products, such as Liraglutide in the UK, Dasatinib in the US, and YesintekTM, which boosted revenue performance in Q4FY25. Going forward, the company plans to invest $200-250 million in capital expenditures across several business segments. While Syngene will increase the capacity of its research centres and production facilities for large and small compounds, BBL wants to expand its insulin factory in Malaysia as part of its capital expenditure plans. It is anticipated to spend $50 million in capital expenditures on generics in the upcoming year. The business anticipates approving generic Copaxone in the US and launching liraglutide there. According to management, Lenalidomide will be introduced in limitless quantities, with more launches scheduled for FY26. Additionally, five other products—Stelara, Bevacizumab, Aspart, Aflibercept, and Denosumab—will be introduced during the next 12 to 18 months. Risk Factor: If clearances from the US Food and Drug Administration, the European Medicines Agency, and those in the Asian and Latin American markets are delayed, their biosimilar business may miss out on opportunities. Additionally, the company faces fierce competition from a number of cost-competitive Indian enterprises as well as strong defense tactics from innovative companies that produce authorized generics. Target price: ₹1,050 in 16-24 months Stop loss: ₹730 Why it's recommended: Titagarh Rail Systems was founded in 1997 and has over 25 years of expertise as a top provider of comprehensive mobility solutions in India. Its main activities include the production of passenger coaches, propulsion equipment, urban metros, semi-high-speed trains, and a variety of wagons, including specialized ones. With four production sites, the firm can now produce 12,000 wagons and 300 coaches annually, processing about 30,000 tonnes of casting steel. As of FY25, their entire order book was worth ₹11,200 crore. Titagarh Rail Systems is the only Indian company that produces both wagons and coaches. In FY25, operational revenue was ₹3,867 crore, a slight increase over ₹3,853 crore in FY24; however, it increased 18% CAGR since FY23. PAT stood at ₹274 crore, down 4.9% from ₹288 crore in FY24; however, it has been increasing at a robust CAGR of 43% since FY23. In FY25, the FRS segment's revenue was ₹3,610.27 crore, up 5.64% year over year. In FY25, the PRS segment's income was ₹255.55 crore. The company achieved a record for the most wagons ever produced in a single year in India, with 9,431 wagons. In FY25, it produced 27,240 metric tonnes in the foundry, setting a new production record. In order to increase its production to a significantly higher level in FY26, the company plans to expand its foundry by constructing fully modern foundry production facilities. About 40,000 tonnes of castings are what the company hopes to produce in the first phase of production in FY26. Since the supply chain problems with China have been fixed, the business anticipates that manufacturing for the Bangalore Metro will be rather streamlined. It is anticipated that production will be completely simplified starting in Q2 of FY26. Starting in FY26, the company plans to increase its propulsion division by between 125 and 150 traction motors every month, or 1,500 to 1,800 traction motors per month. The company has its sights set on winning a number of projects from the enormous potential pipeline. Among the major projects are the anticipated ₹15,800 crore Metro coach contracts and the ₹72,000 crore Vande Bharat Coach. Risk Factor: More than 90% of the company's operating revenues come from freight rail systems and wagons, and Indian Railways continues to be the company's biggest source of sales. Additionally, geographically speaking, the company works on nearly all local projects and has little to no exposure to international enterprises. Two stock recommendations by MarketSmith India Why it's recommended: Capital infusion by promoters, seasonal positive tailwind, EPS growth. Key metrics: P/E: 34.54 | 52-week high: ₹1,064 | Volume: ₹354.22 crore Technical analysis: 50-DMA retake, positive institutional holding Risk factors: Increased raw-material cost and margin pressure, high operational leverage, competitive and regulatory risk. Buy at: ₹638.50 Target price: ₹740 in two to three months Stop loss: ₹687 Why it's recommended: Strong Q4 performance, expansion in mobility business, growth in consumer business. Key metrics: P/E: 47.42 | 52-week high: ₹39,088 | Volume: ₹68.04 crore Technical analysis: Trending above all key moving averages, bullish continuation pattern. Risk factors: Supply chain, currency risk, competition and regulatory pressure. Buy at: ₹32,375 Target price: ₹36,200 in two to three months Stop loss: ₹30,300 Also Read: Is the Israel-Iran war a billion-dollar threat to Adani Ports & SEZ? Two stocks to trade, recommended by NeoTrader's Raja Venkatraman BODALCHEM: Buy above: ₹68 | Stop: ₹64.50 | Target: ₹74-78 LTFOODS: Buy above: ₹426 | Stop: ₹410 | Target: ₹475-495 MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543). Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
