HDIL falls 20% in early trade, loses Rs 18.5 bn in m-cap since Monday
24th January 2013 11:18 AM
Housing Development & Infrastructure (HDIL), the real estate development company in India, dropped for a third straight day Thursday afterSarang Wadhawan, vice chairman and managing directorsold partial stake in the company on Tuesday.
The promoter has raised about Rs 500 million through 1% stake sell. The fund will be utilised to make payment for land cost.
Shares of the company are trading at Rs 76.70, down Rs 19.55, or 20.31% at the Bombay Stock Exchange (BSE) on Thursday at 10:24 a.m.
Since Monday, shares dropped total of 36.5% and lost Rs 18.5 billion in market capitalisation to Rs 32.1 billion. The scrip has touched an intra-day high of Rs 97.40 and low of Rs 75.25. The total volume of shares traded at the BSE is 12,919,212.In the earlier session, the shares lost 14.33%, or Rs 16.1, at Rs 96.25. Currently, the stock is trading down 43.35% from its 52-week high of Rs 135.40 and above 28.69% over the 52-week low of Rs 59.60.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 119.65 (23.40) (19.56) 1 Month 106.50 (10.25) (9.62) 3 Months 98.20 (1.95) (1.99) 6 Months 75.35 20.90 27.74 1 Year 82.75 13.50 16.31 Note: Based on previous day closing price.
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