12 Apr 07 Orbit Corp ends the day at a premium

Orbit Corp listed at a discount, at Rs. 90, on the BSE. However it immediately bounced back and hit a high of Rs.136.8 before ending the day with a handsome gain of 16.36%. Orbit Corp’s high and low for the day wasÃ‚Â Rs. 136.80 and Rs. 90, respectively.Ã‚Â The issue price of the shares in the IPO was fixed at Rs. 110

Orbit Corp, which redevelops projects in Mumbai,Ã‚Â is currently implementing 16 projects at various upmarket, premium locations. The estimated sale area for these projects is about 6,85,327 sq. ft.Ã‚Â The company has also successfully bid at Rs 333 crore, for Gujarat Ambuja CementsÃ¢â‚¬â„¢ approximately 8,763 square meters of land at Kalina and neighbouring Santacruz inÃ‚Â Mumbai.

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