HDIL reverses direction after hitting 52-week high

Housing Development & Infrastructure fell 1.36% to Rs 127.10 at 10:57 IST on BSE, with the stock declining on profit booking after yesterday's 24.25% rally.

Meanwhile, the S&P BSE Sensex was down 32.11 points or 0.11% at 28,472.35

On BSE, so far 21.91 lakh shares were traded in the counter as against average daily volume of 28.94 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 131.35 in intraday trade today, 7 April 2015. The stock hit a low of Rs 125.80 so far during the day. The stock had hit a 52-week low of Rs 58.50 on 4 April 2014.

The stock had outperformed the market over the past one month till 6 April 2015, rising 12.93% compared with 3.21% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 92.17% as against Sensex's 5.62% rise.

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

Shares of Housing Development & Infrastructure (HDIL) had jumped 24.25% to settle at Rs 128.85 in a single trading session yesterday, 6 April 2015. Merrill Lynch Capital Markets Espana S.A. SVB bought 58.16 lakh shares or 1.38% stake in HDIL at an average price of Rs 115.26 per share in a bulk deal on NSE yesterday, 6 April 2015.

On a consolidated basis, HDIL's net profit surged 1219.4% to Rs 67.29 crore on 301.1% rise in total income to Rs 359.48 crore in Q3 December 2014 over Q3 December 2013.

HDIL is engaged in real estate development business.

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