Eldeco Housing shares fall 7 percent

Bangalore: The Eldeco Housing stock had a bad day in the market after its share price went down by nearly seven percent. Having opened trade at 132, the stock touched an intraday low of 120 before closing at 122.80, 6.86 percent below its previous close of 131.85. The stock's 52 week low is at 41, while its P/E ratio is 4.17. The 52 week stock price chart is on the left.

Eldeco Housing and Industries is an India-based company engaged in the real estate business. It operates in real estate development and building construction. The company's subsidiaries include Aadesh Constructions Private, Garv Constructions, Mahal Constructions, Milaap Constructions, Samarpit Constructions and Suniyojit Constructions. Recently, the company announced that a final dividend at the rate of 10 percent to the equity shareholders, out of the profits of the company for the financial year ended March 31, 2009.

The dividend was on the equity shares of 10 each of the company and such dividend to be paid to those shareholders whose names appear on the register of members of the company as on September 30, 2009. Other major realty stocks that finished in the red are Ansal Housing down 5.96 percent and Parsvnath Developers down 2.41 percent.