Nitesh Estates shares jumped on Thursday after the company has signed up a joint development agreement for a new residential project which will have 262 residential units.

''The project located at prime Hosur main road will have easy access to the electronic city, outer ring road and major office complexes,'' the company said.

Shares of the company are trading at Rs 14.44, up Rs 0.88, or 6.49% at the Bombay Stock Exchange (BSE) on Thursday at 10:51 a.m.

The scrip has touched an intra-day high of Rs 14.90 and low of Rs 14.25. The total volume of shares traded at the BSE is 21,266.