HDIL loses Rs 10 bn in m-cap as stock fall 20% in two days
23rd January 2013 06:18 PM
Housing Development & Infrastructure (HDIL), the real estate development company in India, plunged further on Wednesday after vice chairman and managing director Sarang Wadhawan soldpartial stake in the company on Tuesday.
Thepromoter has raised about Rs500 million through 1% stake sell. The fund will be utilised to make payment for land cost.
Shares of the company settled at Rs 96.25, down Rs 16.1, or 14.33% at the Bombay Stock Exchange (BSE) on Wednesday. In the earlier session, the shares declined 7.03%, or Rs 8.5to Rs 112.35.
The company lost Rs 10.3 billion in market capitalisation to Rs 40.3 billion due to 20% drop in share pricesfrom Monday's closing.
Total volume of shares traded on the bourses today was higher by 546.15% to 97,725,636 compared with 22-day average volume of 15,124,376.
The scrip has touched an intra-day high of Rs 114.40 and low of Rs 93.50.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 120.10 (7.75) (6.45) 1 Month 106.50 5.85 5.49 3 Months 101.15 11.20 11.07 6 Months 75.35 37.00 49.10 1 Year 81.00 31.35 38.70 Note: Based on previous day closing price.
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