Ashiana Housing soars after strong booking at Jharkhand project

Ashiana Housing jumped 8.72% to Rs 96.65 after the company said it converted 244 expression of interests into booking out of the total 250 units available in phase 1 of the project 'Ashiana Aditya'.

As on date area of 3,46,834 square feet (sq. ft.) out of the total area of 3,54,750 sq. ft. have been booked.

'Ashiana Aditya' project has a total saleable area of 6.72 lakhs square feet. The project consists of 2 BHK and 3 BHK units and is located at Adityapur, Jamshedpur (Jharkhand). The filing was made after trading hours on Friday, 13 December 2019.

The S&P BSE Sensex was down 79 points or 0.19% to 40,930.96.

In the past one month, shares of Ashiana Housing fell 1.17% to its current market price of Rs 96.65, underperforming the Nifty Realty index's 3.79% rise in the same period.

On the technical front, the stock's RSI (relative strength index) stood at 57.482. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was above its 50-day moving average (DMA) placed at Rs 95.78. Its 200-day moving average was placed at Rs 110.10.

On a consolidated basis, Ashiana Housing reported a net loss of Rs 9.51 crore in Q2 September 2019 as compared to net profit of Rs 2.06 crore in Q2 September 2018. The consolidated total sales rose 7.1% to Rs 72.26 crore in Q2 September 2019 over Q2 September 2018.

Ashiana Housing is engaged in real estate activities with own or leased property. The company operates through the real estate business segment. The firm's projects include comfort homes project, senior living project, care homes project and retail project.

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