India, Dec. 23 -- A small cap company in the business of development and sale of real estate saw its stock surge by 14 percent, which was soon after the company acquired 53.5 Acre of land in Bengaluru. The company has stated the Gross Development Value (GDV) of the land at Rs 4,800 Cr. With a market cap of Rs 6,481 Cr, Puravankara Ltd saw its stock hit an intraday high of Rs 274 which is 14 percent higher than the previous close of Rs 240.

What's the News? On Tuesday Puravankara Limited announced that the company has strengthened its Bengaluru growth strategy by acquiring a 53.5 acre land parcel in Anekal Taluk, Attibele Hobli, a fast-emerging residential corridor. The project offers a saleable development potential of around 6.4 million...