Godrej Properties board to mull fund raising on 11th May

Godrej Properties said its board will meet on 11 May 2020 to consider raising funds by issuing non-convertible debt securities on private placement basis, in one or more tranches.

The board of Godrej Properties will also consider Q4 results on 11 May 2020, the company said in a statement after trading hours yesterday, 5 May 2020.

Godrej Properties is engaged in construction and real estate development. On a consolidated basis, the firm reported 9.2% rise in net profit to Rs 45.46 crore on a 12.57% increase in net sales to Rs 382.82 crore in Q3 December 2019 over Q3 December 2018.

Shares of Godrej Properties fell 0.96% to Rs 605.95 on BSE. The stock traded in the range of Rs 603.80 to Rs 632.30 so far.

On the technical front, the stock's RSI (relative strength index) stood at 34.878. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day moving average (DMA) placed at 775.67 and its 200-day moving average (DMA) placed at 917.17.

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