Equity Tips, HDIL up nearly 2% on plans to divest stake in Excel Arcade

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Shares of Housing Development and Infrastructure Limited (HDIL) rose nearly 2 per cent in early trade on the Bombay Stock Exchange after the company said that it has decided to divest 100 per cent shareholding of its wholly owned subsidiary company, viz. Excel Arcade Private Limited. Following the announcement, shares of company gained as much as 1.90 percent to hit intra-day high of Rs 69.55 apiece on the Bombay Stock Exchange. In a similar fashion, stocks of company rose 1.10 per cent to Rs 69.00 apiece on the National Stock Exchange.