Shriram Properties gains for third consecutive day after Omega TC offloads stake

Shares of Shriram Properties rose 1.17% to Rs 84.75 at 9:23 a.m. on August 24 after Omega TC Saber Holdings Private Limited (Omega TC) sold another Rs 12.8 lakh on the Stock Exchange. nation.
Omega TC sold 12.8 lakh shares for Rs 83.58 in an accompanying deal on August 23. The buyers involved in the transaction are unknown.
Omega TC has sold shares of Shriram Properties in the past three days. Unloading began on August 21, when Omega TC sold 180,000 shares of Shriram Properties. On August 22, the company sold another 39,000 shares of Shriram Properties.
Over the past three days, Omega TC has sold its 4.1% stake in the company, down from a 9.39% stake on June 30.
Shriram Properties stock has gained 15.88% over the past three days. Shriram Properties and ASK Properties Fund announced on 23 August a joint investment of Rs 206 crores to develop an ongoing project in Chennai. The project will be developed through Shrivision Elevations Private Limited, a subsidiary of Shriram Properties. The project is located in Mangadu, right near the Porur – Manapakkam IT cluster and the next urban corridor. It has a total marketable area of ​​1.9 million square meters and has a total revenue potential of Rs 1,200 crore over the next 5 years. The project includes about 1,900 apartments, mainly targeting the middle income group.
“The acquisition creates value and will help us strengthen our position in the micromarket,” said Mr. Murali, CEO of Shriram Properties.