Penny stock under ₹15 hits 10% upper circuit on RERA nod for residential project
According to the company's filing with the exchange, this project is being developed by its subsidiary, Nila Urban Living Private Limited, in which the company holds a 90% stake. The registration remains valid until December 31, 2030, unless it is renewed by the RERA Authority.
The project has engaged in partnerships with leading international companies. The brand's identity has been crafted by Interbrand, a worldwide brand consulting firm. Architectural design is being executed by Blocher Partners, a German firm celebrated for its practical and user-focused strategies.
The lifestyle services in the development will be facilitated by Quintessentially, a concierge provider specialising in travel, wellness, dining, education, and cultural experiences.
Deep Vadodaria, the CEO of Nila Spaces, expressed that the goal behind PRANA was to transform the approach to urban residential development by integrating design, wellness, and sustainability into a cohesive environment.
Vadodaria added that with burnout impacting nearly 80% of professionals and the lines between work and life becoming increasingly indistinct, we believed it was essential to provide an alternative. PRANA serves as that alternative—a space crafted to replenish what the modern lifestyle drains away.
Nila Spaces is an innovative real estate development firm dedicated to creating sustainable, community-focused, and wellness-centric urban spaces. By prioritising design and embracing a commitment to forward-thinking living, the firm is transforming the landscape of real estate in India's smart cities and beyond.
Nila Spaces share price today opened at ₹ 12.60 apiece on the BSE, the stock touched an intraday high of ₹ 13.72 per share, and an intraday low of ₹ 12.19 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Nila Spaces is a low-volume penny stock that has witnessed increased interest in today's session, marked by a surge in volume and a 10% upper circuit.
'Such stocks often trade in circuits and are generally best avoided. However, from a technical perspective, the recent momentum and range breakout suggest the upmove could extend towards ₹ 15.5 in the near term, while ₹ 12.5 acts as immediate support on the downside,' said Bhosale.
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