Trend

Stock sale

Phoenix Mills promoters sell stake worth ₹3.74 billion as it hits a 52-week high

Even as the narrative over the real estate slowdown grows louder, one company in this space has been weathering the storm. Strong earnings performance over the past two quarters has turned the sentiment around for Phoenix Mills. From a 52-week low of Rs.491 last October, the stock hit an all-time high of Rs.766 this September. In Q1FY20, the realty company’s topline grew 49% YoY to Rs.6.15 billion, driven by higher revenue from the residential segment.

unsub

You don’t want to be left behind. Do you?

Our work is exclusively for discerning readers. To read our edgy stories and access our archives, you’ve to subscribe