HDIL shares fall by 12.19 percent

By SiliconIndia   |   Tuesday, June 30, 2009   |    3 Comments
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Bangalore: Housing Development and Infrastructure (HDIL) has ended the day as top loser of the day, when its share came down by Rs.32.30 (12.19 percent).When the markets opened, HDIL's share moved to Rs.269.85 from Rs 265.00 (previous close) but it failed to keep the momentum throughout the day and fell to Rs.232.70 at the end of the trading. During the day the stock hit a high of Rs 269.85 and a low of Rs. 230.10 with 9,286,588 shares traded through the day. The P/E ratio of the stock is 33.76. The stock of HDIL touched a 52 week high of Rs 529.70 and a low of Rs.62.50. With 402,480 shares, Kotak Equity Arbitrage Fund (G) holds the highest number of share in HDIL. The stock chart is given on left. Housing Development & Infrastructure Limited (HDIL) is a real estate development company in India, with significant operations in the Mumbai Metropolitan Region. Its business mainly focuses on Real Estate Development, including construction and development of residential projects, commercial and retail projects, Slum Rehabilitation and Development, Land Development, including development of infrastructure on land which they sell to other property developers. For the financial year ended March 31, 2008, the Company generated revenue of Rs 2,432.32 crores against Rs.1216.51 crores in previous year. Out of 18 analysts following HDIL, consensus recommendation is hold, while three recommended buying, two suggested the stock as outperform, three of them suggested stock would underperform and one asked to sell the share. Other related companies have also ended the day on red. Indiabulls Real Estate plunged by 8.32 percent, Parsvnath Developers came down by 4.95 percent and Venus Ventures also ended the day with a loss of 4.99 percent.
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