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Shares of state-run Rashtriya Chemicals and Fertilizers Ltd surged 17.23 pct to Rs 79.60, in their sharpest intraday percentage gain in over three years.
The Cabinet has given its approval for the transfer of the company’s land to Mumbai Metropolitan Regional Development Authority (MMRDA), the Municipal Corporation of Greater Mumbai (MCGM) had said late on Wednesday.
It has also approved selling of transferable development right certificate received/receivable against transfer of land to MMRDA/MCGM.
More than 5.2 million shares changed hands in first 30 minutes of trade, compared with 30-day average of about 1.6 million shares. The stock was the top percentage gainer on Nifty 500 index.
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