Shares of Prestige Estates Projects rose 4% in morning trade on April 19 after acquiring a 51% stake in the construction company.

Through its wholly-owned subsidiary Prestige Exora Business Parks Limited, Prestige Estates Projects has acquired a 51% interest in Dashanya Tech Parkz Private Limited.

Dashanya Science and Technology Park is engaged in developing and constructing commercial office space. The company’s turnover for the year ended March 31, 2022, was Rs 245.1 crore.

The company has acquired 7.65 lakh equity shares in Dashanya Tech Parkz at Rs 66.07 crore.

At 9:20 am, Prestige Estates Projects was quoted at Rs 450.70 on the BSE, up Rs 12.45, or 2.84%.

The stock hit a 52-week high of Rs 511.30 and a 52-week low of Rs 375 on December 5, 2022, and July 5, 2022, respectively. It trades 11.85% below its 52-week high and 20.19% above its 52-week low.