HDIL slips on profit booking

HDIL fell 2.94% to Rs 49.55 at 9:56 IST on BSE on profit booking after the stock rose 12.32% in the preceding four trading sessions to Rs 51.05 on 3 April 2013 from a recent low of Rs 45.45 on 26 March 2013.

Meanwhile, the BSE Sensex was down 146.43 points, or 0.78%, to 18,655.21.

On BSE, 7.31 lakh shares were traded in the counter as against an average daily volume of 57.50 lakh shares in the past one quarter.

The stock hit a high of Rs 50.35 and a low of Rs 48.55 so far during the day. The stock had hit a 52-week high of Rs 123.95 on 16 January 2013. The stock had hit a 52-week low of Rs 43.65 on 26 March 2013.

The stock had underperformed the market over the past one month till 3 April 2013, sliding 13.11% compared with the Sensex's 0.62% fall. The scrip had also underperformed the market in past one quarter, falling 56.16% as against Sensex's 4.87% fall.

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

On a consolidated basis, HDIL's net profit fell 31.1% to Rs 107.35 crore on 0.2% decline in net sales to Rs 419.95 crore in Q3 December 2012 over Q3 December 2011.

HDIL is in the business of real estate development since 1973. Since incorporation, the company has executed around 38 projects and developed around 38.34 million square feet (msf) area. The company is also a leading slum rehabilitation developer in Mumbai and has developed around 14.79 million square feet of rehabilitation area. It is currently carrying out rehabilitation of around 85,000 families under 'Mumbai International Airport Limited slum rehabilitation project (MIAL).

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