MUMBAI: Emami Infrastructure is up sharply after the company announced the launch of is ultra luxury project Montana in Mulund. At Rs 78.80, the stock, which rose to Rs 82.95 earlier in the session, is up nearly 5% from its previous closing price. The stock has moved up on impressive volumes with nearly 2.7 lakh shares changing hands at the counter so far in the session, about 17 times the average daily volume of 16,000 shares the counter has clocked in the past couple of weeks.
On the National Stock Exchange, the Emami Infrastructure counter has clocked a volume of almost 1.2 million shares so far in the session.
Emami Group’s Emami Infrastructure Limited and Sheth Group, among the top names in the realty space, have formed a partnership for this luxury project.
The project will showcase the expertise of renowned international architect James Law. World-renowned HBA Singapore as the interior designer and TROP landscape designer from Bangkok are also teaming up for the project.
The Montana project, which is spread over seven acres, is located on the arterial LBS Road in Mulund. With its strategic location giving access to other parts of Mumbai, Mulund is among the most preferred real estate destination for home buyers.
Spread over 7 acres, the project comprises of four towers and will house apartments of 2, 3, 4 and 5 BHK configurations.
“We are already present in Mulund with our project Vasant Oscar and Vasant Garden. With this project, our association with Emami Group, James Law, HBA Singapore and TROP will be stronger and long-lasting,” said Sheth Group Chairman and Managing Director Ashwin Sheth.
Sheth Group has a portfolio of 70 projects and over 20 million square feet developed and delivered.
Emami Group Joint Chairman RS Agarwal, said, “Montana is our third project with Sheth Corp”.
Emami Group has so far delivered over 24 residential and commercial projects, comprising 36 million sqft area, primarily in Kolkata.