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Other Developments
A curated list of other prominent stories from this day.
11:13 PMEconomic Times
Sri Lotus shares rally 29% in a month. Can luxury and redevelopment sustain the momentum?
Summary
Sri Lotus Developers & Realty shares have risen 29% in a month, driven by investor expectations for its luxury housing and redevelopment pipeline. The company has 22 planned projects with an estimated gross development value of ₹17,500 crore to ₹18,000 crore, while collections have also grown year over year.
The rally now depends on execution, not just the size of the pipeline. Luxury projects
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Why it matters
Sri Lotus is being valued on future project execution, making sales conversion and timely development the key tests for its share-price gains.
MTNL shares rally 17% as board approves Rs 892 crore Powai property sale amid debt worries
Summary
MTNL’s board approved the sale of its Powai property in Mumbai to the Income Tax Department for Rs 891.53 crore. The transaction is part of the debt-laden state-owned telecom company’s effort to monetise assets and reduce liabilities of roughly Rs 40,000 crore.
The approval gives MTNL a near-term source of cash, which explains the sharp rise in
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Why it matters
The transaction offers MTNL temporary financial relief, but its survival still depends on sustained debt reduction and government support.