HB Portfolio stock down by 10 percent


Bangalore:HB Portfolio Limited stock was among top losers after price went down by nearly 10 percent.After opening the day at 70.30, the stock touched its 52 week high of 70.30, before closing the trade at 64.95, with loss of 9.93 percent.Through the day,109259 shares of HB Portfolio Limited were traded in the market. HB Portfolio Limted. is an India-based company. The Company is engaged in the business of investing in securities. The Company’s wholly owned subsidiaries include HB Securities Ltd. and HB Corporate Services Limited. H B Portfolio announced a substantial drop in standalone net profit for the quarter ended June 2010. During the quarter, the profit of the company declined 72.22 percent to Rs 7.96 million from Rs 28.65 million in the same quarter last year. Net sales for the quarter declined 67.07 percent to Rs 12 million, while total income for the quarter fell 67.07 percent to Rs 12.09 million, when compared with the prior year period. It posted earnings of Rs 0.66 a share during the quarter, registering 72.38 percent decline over previous year period.