Emami Infrastructure lost 3.23% to Rs 75 at 12:52 IST on BSE on profit taking after recent rally triggered by the company's tie-up with a real estate company for a project in Mumbai.
Meanwhile, the S&P BSE Sensex was up 115.73 points or 0.39% at 29,447.89. The BSE Small-Cap index was up 94.57 points or 0.67% at 14,122.51.
On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 12,914 shares in the past two weeks. The stock had hit a high of Rs 78.60 and a low of Rs 74.25 so far during the day.
The stock had hit a 52-week high of Rs 90.40 on 7 July 2016 and a 52-week low of Rs 34 on 31 March 2016. It had outperformed the market over the past one month till 23 March 2017, surging 21.38% compared with the Sensex's 1.52% rise. The scrip had also outperformed the market over the past one quarter, gaining 41.94% as against the Sensex's 12.64% rise.
The small-cap company has equity capital of Rs 4.86 crore. Face value per share is Rs 2.
Shares of Emami Infrastructure had rallied 23.8% in the preceding two trading sessions to settle at Rs 77.50 yesterday, 23 March 2017, from its closing of Rs 62.60 on 21 March 2017, after the company during market hours on 22 March 2017 said it has tied-up with Sheth Corp to launch flagship residential project in Mumbai.
Emami Group announced that it has pumped Rs 350 crore to join hands with Sheth Corp for 50% partnership in Mulund project.
Sheth Group is a leading developer in the luxury & mid-housing segment of real estate, with a global footprint.
Emami Infrastructure reported net loss of Rs 0.17 crore in Q3 December 2016 as against net loss of Rs 0.71 crore in Q3 December 2015. The company reported total income from operations of Rs 0.24 crore in Q3 December 2016. It did not report any top line for Q3 December 2015.
Emami Infrastructure's primary business is development of residential, commercial and retail properties through its subsidiaries and associates.
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