Agencies | Updated On: January 31, 2014 11:24 (IST)
Shares in Oberoi Realty surged around 7 per cent after the company said on Thursday that the Supreme Court dismissed a lower court judgement that had declared as private forest certain properties that a unit of the real estate developer wanted to develop.
Now, the Oberoi unit can develop the land in Maharashtra.
Global investment bank Macquarie maintained its "outperform" call on Oberoi Realty saying the company is likely to expedite launch of project after clearance.
Worli's official launch is next trigger, Macquarie added, which has a target of Rs 234 on Oberoi Realty.
(With inputs from Reuters)
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