cmp:-502219
currently trading at:-805
target:-1000,1200
As per reports, Borosil Glass Works holds an 18-acre industrial plot in Marol, Andheri, a western suburb in Mumbai. The company has reportedly demanded Rs 800 crore to Rs 1,000 crore for this prime piece of land being put on block. Reports added that the Lodha Group, Runwal, Piramal Sunteck Realty, HDIL and Dheeraj are likely to be in the fray to acquire the land.
Borosil Glass Works has appointed an agency to find out optimum value of the Marol property in order to enable the company to take a decision as to whether to sell or develop the land. It may be recalled that Borosil Glass Works' board of directors at its meeting held on 31 October 2009 had decided to enter into real estate business after shutting down its plant at Marol by constituting a new division Marol Division and to transfer entire other businesses into another division called Glass Division. However, the board on Wednesday, 12 May 2010, reversed the earlier decision to create two separate divisions 'Marol Division' and 'Glass Division'.
If this deal went ahead we can see Brosil crossing 2000 levels in no time, a great buy at dips,keep a close eye at this counter since all the news will be out by 28th may folks!!Its a hight Beta stock so be aware too.
