Modern India shares down 8 percent

By SiliconIndia   |   Wednesday, February 24, 2010
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Bangalore: Modern India ended the day as one of the top losers with a loss of Rs.10.75 (7.91 percent). The company had opened the account today at positive not, but managed to continue the momentum throughout the day and ended the day at Rs.125.20. In all 295 shares were traded throughout the day with current P/E ratio at 34.87. The stock has 52-week high value of Rs.248 and low of Rs.99.50. The 52 week stock price chart is on the left. Modern India (MIL) is an India-based company engaged in real estate business. The company operates in three segments: Real Estate, Business Centre and Trading. Central Bombay Infotec Park Joint Venture arm of Modern India is running Business Centre named Modern Centre. Trading activities consist of cloth, yarn, software/Revo Milling machine, sponge iron, galvanized iron sheets and pipes. On January 1, 2009, the company terminated its joint venture agreement with Gitanjali Gems, and in pursuance of the same it has sold its interest in Modali Gems in March 2009. In June 2009, the company disinvested its entire holding in Modern India Realty and Infrastructures. Other real estate companies also ended the day in red zone with Ajmera Realty and Infrastructure and Phoenix Mills slipping 2.41 and 2.22 percent, respectively.
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