Brigade Enterprises rises after launch of luxury project

Brigade Enterprises rose 0.75% to Rs 242.50 at 09:45 IST on BSE after the company announced the launch of a luxury apartment project Buena Vista in Bengaluru.

The announcement was made after market hours on Friday, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 2.59 points, or 0.01%, to 29,704.02. Meanwhile, the S&P BSE Small-Cap index was up 50.39 points, or 0.34%, to 14,731.81

On BSE, so far 697 shares were traded in the counter, compared with average daily volume of 37,594 shares in the past one quarter. The stock hit a high of Rs 244.90 and a low of Rs 242.25 so far during the day. The stock hit a 52-week high of Rs 251.90 on 5 April 2017. The stock hit a 52-week low of Rs 138.30 on 8 April 2016.

The stock had outperformed the market over the past one month till 7 April 2017, rising 21.14% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 57.73% as against Sensex's 11.01% rise.

The small-cap company has an equity capital of Rs 113.66 crore. Face value per share is Rs 10.

Brigade Buena Vista consists of 4 elegant residential towers spread across 7 acres, large parts of which are reserved for green, open spaces. The project is strategically located with excellent 3-way connectivity to Whitefield, Central and North Bengaluru and offers a strategic mix of accessibility and convenient living.

Brigade Enterprises' consolidated net profit declined 12.41% to Rs 30.41 crore on 14.46% fall in net sales to Rs 537.61 crore in Q3 December 2016 over Q3 December 2015.

Brigade Enterprises is Brigade group's flagship company. Brigade group was established in 1986, with property development as its main focus.

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