Orbit Corporation

SC nod for redevelopment

Posted by : latikav

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Orbit Corp flares up 6% on SC nod for redevelopment
-------------MUMBAI: Shares of Orbit Corp, which focuses on redevelopment projects in southern Mumbai, surged more than 6 per cent after the Supreme Court on Thursday cleared a Maharashtra development control rule allowing realtors to enjoy floor space index of three to seven times, allowing them to build more vertically.

The SC verdict brings to end a prolonged legal battle over one of the most contentious issues in Mumbai. According to reports, close to 19,642 old, cess buildings in South Mumbai will now be available for redevelopment.

According to the amended rules, developers can get up to 2.5 or even higher FSI for re-development of chawls constructed before 1940. For chawls constructed after 1940, developers will get, as an incentive, 50% additional FSI of the utilised area for rehabilitating existing tenants.

At 10:30 am, the company's shares were up 6.19 per cent at Rs 324. Lok Housing, another city-based developer, was also up 2.5 per cent at Rs 51.40.

However, the BSE Realty Index remained subdued in line with the general market weakness.


ET.........

Posted by : shre

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can anyone tell why the price of this stock rocketed so high in a single trading day (arnd 17%)?......

Orbit Corporation by end of year?

Posted by : kokrku

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In Real-Estate space, Orbit is the best.... It is into redevelopment in Mumbai's prime localities......

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Orbit Corporation by end of year?

Posted by : pradeepht

Is orbit corp good for long term? what could be the value by end of Dec 2008?

Orbit Corporation by end of year?

Posted by : pradeepht

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Is orbit corp good for long term? what could be the value by end of Dec 2008? ...

500/- by next Aug end

Posted by : Guest

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On what basis u r saying guest?...

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Orbit Corporation by end of year?

Posted by : pradeepht

Is orbit corp good for long term? what could be the value by end of Dec 2008?

500/- by next Aug end

Posted by : panni

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Hey Have you seen the programme on cnbc /this report came on TV on saturday the 23rd....

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Orbit Corporation by end of year?

Posted by : pradeepht

Is orbit corp good for long term? what could be the value by end of Dec 2008?

NSE Announcements on Orbit Corporati

Posted by : MMB Messenger
Price when posted : [Orbit Corporati - BSE:Rs. 287.90 NSE:Rs. 288.30 when posted]

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Orbit Corporation Limited has informed the Exchange regarding the outcome of Annual General Meeting of the Company held on August 07, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements)....

BSE Announcements on Orbit Corporati

Posted by : MMB Messenger
Price when posted : [Orbit Corporati - BSE:Rs. 302.50 NSE:Rs. 302.80 when posted]

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Orbit Corporation Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on August 07, 2008....