Bengaluru, Aug. 26 -- A real estate stock traded marginally higher after announcing the acquisition of a strategic land parcel in Mumbai's Lower Parel. Investors reacted positively as the consolidation with its existing project is expected to unlock value and strengthen the developer's presence in the value-luxury segment.

Suraj Estate Developers Ltd, with a market capitalisation of Rs. 1,548.81 crore, opened at Rs. 326.95 against its previous close of Rs. 324.25. The stock touched an intraday high of Rs. 327, marking a rise of 0.85 percent from the previous close.

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Suraj Estate Developers has acquired a 644 sq. meter land parcel at N.M. Joshi Marg, Lower Parel, for Rs. 6.44 crores, inclusive of stamp duty and registrat...