160% Gain In 6-Months: Small Cap Stock Hits 20% Upper Circuit On Rs 5200 Cr Worli Land Deal

Small cap stock operating in textile sector, Bombay Dyeing & Manufacturing Company Ltd on Thursday hit 20% upper circuit on BSE after its board of directors approved the proposal to sell the land parcel of nearly 22 acres in Worli, Mumbai to Goisu Realty, subsidiary of Japanese realty developer Sumitomo for 5200 crore. Current market price of Bombay Dyeing share is Rs 163.35 apiece with intraday rally of 16.30%. Bombay Dyeing shares offered its shareholders return of 160% in last 6-months and 78% return in last 3-months. Check details below:

Bombay Dyeing Shares Rise On Rs 5200 Cr Mumbai Land Deal: According to the BSE filing of Bombay Dyeing dated September 14, "The Board of Directors of The Bombay Dyeing and Manufacturing Company Limited (BDMC) at their meeting held today on 13th September 2023, approved the proposal to sell the land parcel of about 22 acres (along with the associated FSI) in Worli, Mumbai to Goisu Realty Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) ("Buyer") in 2 phases, for a total consideration of about Rs. 5,200 Crs, subject to approval of its Shareholders. Upon approval of Shareholders, BDMC will receive about Rs. 4,675 Crs from the Buyer for Phase-I. The balance amount of about Rs. 525 Crs will be received upon completion of certain conditions by BDMC and execution & consummation of the definitive agreements thereto for Phase- II."

Bombay Dyeing Stock Performance & Return: Current market price of Bombay Dyeing stock is Rs 163.35 per share. Its 52-week high price is Rs 168.30 apiece. Bombay Dyeing shares hit 20% upper circuit and traded new 52-week high on September 14 a day after the Mumbai land deal. Bombay Dyeing stock offered shareholders return of 106% YTD, soared 58% in last 1-year, jumped 144% in last 3-years, and declined 34% in last 5-years.

Bombay Dyeing About: Established by Nowrosjee Wadia in 1879 as a small operation of Indian spun cotton yarn dip dyed by hand, Bombay Dyeing has now grown to be one of the most respected and trusted brands in the country. It offers linens, towels, home furnishings, leisure clothing, kids wear and a whole range of other products across 350+ Bombay Dyeing Retail or 2000+ Multi-brand stores, according to its official website.

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