STOCK VIEW - BOMBAY DYEING

Bombay Dyeing Rs. 372.00 Code : 500020

Bombay Dyeing has announced that it expects realty to generate over half of its revenues this financial year and three quarters in five years. So, it will essentially become a real estate firm instead of a textile company. The Wadia Group and Bombay Realty, the group's real estate arm, have a land bank of about 10,000 acres spread across the country. This includes 700 acres of prime land in the financial capital, Mumbai, acquired at rock bottom prices in the 1800s and 1900s by group firms Bombay Burmah, Bombay Dyeing, Britannia and the
current and erstwhile promoters.The company is launching four projects spread over 180 acres by the March end. This includes projects at Dadar and Worli, spread over 70 acres in the island city of Mumbai and 100 acres in mainland Mumbai. Promoters are also accumulating shares from open market. They have bought more than 8 lakh shares recently. So, there are more positives for this stock. That’s why the stock has been on fire amid turbulant
market. The stock has jumped from around Rs. 300 a month ago to Rs. 372 on Friday. The rally will continue. Buy at this levels for smart gains.