Era Infra Engg slides as IFCI offloads bulk shares

Era Infra Engineering was locked at 5% lower circuit at Rs 6.25 at 11:14 IST on BSE after IFCI sold 14.25 lakh shares of the company at Rs 6.61 per share in a bulk deal on NSE on Wednesday, 26 November 2014.

Meanwhile, the S&P BSE Sensex was down 9.83 points or 0.03% at 28,376.36.

On BSE, so far 7.13 lakh shares were traded in the counter as against average daily volume of 4.01 lakh shares in the past one quarter.

The stock hit a high of Rs 6.44 so far during the day. The stock had hit a 52-week low of Rs 6.24 on Wednesday, 26 November 2014. The stock had hit a 52-week high of Rs 36.05 on 13 June 2014.

The stock had underperformed the market over the past one month till 26 November 2014, sliding 45.02% compared with the Sensex's 5.72% rise. The scrip had also underperformed the market in past one quarter, slumping 58.42% as against Sensex's 7.35% rise.

Era Infra Engineering reported a net loss of Rs 208.94 crore in Q2 September 2014, higher than net loss of Rs 143.03 crore in Q2 September 2013. Net sales declined 40% to Rs 360.47 crore in Q2 September 2014 over Q2 September 2013.

Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports.

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