HDIL jumps on bargain hunting

Housing Development & Infrastructure jumped 5.05% to Rs 48.85 at 15:24 IST on BSE on bargain hunting after the stock tumbled 7.28% in the preceding six trading sessions to Rs 46.50 on 20 March 2014, from a recent high of Rs 50.15 on 11 March 2014.

Meanwhile, the BSE Sensex was almost flat at 21,739.10

On BSE, so far 16.09 lakh shares were traded in the counter, compared with an average volume of 16.12 lakh shares in the past one quarter.

The stock hit a high of Rs 49.40 and a low of Rs 46.90 so far during the day. The stock hit a 52-week high of Rs 63.30 on 20 May 2013. The stock hit a record low of Rs 26.10 on 6 August 2013.

The stock had outperformed the market over the past one month till 20 March 2014, rising 12.45% compared with the Sensex's 5.86% rise. The scrip had, however, underperformed the market in past one quarter, falling 8.64% as against Sensex's 3.13% rise.

The small-cap company has an equity capital of Rs 419 crore. Face value per share is Rs 10.

On a consolidated basis, Housing Development & Infrastructure (HDIL)'s net profit fell 95.25% to Rs 5.10 crore on 79.25% fall in net sales to Rs 89.63 crore in Q3 December 2013 over Q3 December 2012.

HDIL is engaged in real estate development business.

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