Oberoi Realty shares surged on Wednesday after the Tata Steel board declared Oberoi Realty as the highest bidder of the auction of about 25 acres of land parcel located on the Western Express Highway in Borivali (E), on the basis of their final bid of Rs 11.55 billion, after several rounds of bidding.  

Oberoi Realty is awaiting a detailed communication for the next steps in the process. The sale will be concluded after receipt of the requisite approvals.

Shares of the company are trading at Rs 220, up Rs 21.3, or 10.72% at the Bombay Stock Exchange (BSE) on Wednesday at 10:19 a.m.

The scrip has touched an intra-day high of Rs 234.50 and low of Rs 204.95. The total volume of shares traded at the BSE is 151,951.

In the earlier session, the shares declined 2.65%, or Rs 5.4, at Rs 198.70.

Currently, the stock is trading down 22.12% from its 52-week high of Rs 282.50 and above 42.86% over the 52-week low of Rs 154.