Sunteck Realty reverses previous day's decline on bargain hunting

Sunteck Realty rose 1.87% at Rs 236.75 at 14:51 IST on BSE on bargain hunting after yesterday's slide triggered by domestic fund selling.

Meanwhile, the BSE Sensex was down 119.46 points, or 0.44%, to 27,159.30

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 52,142 shares in the past one quarter. The stock hit a high of Rs 244 and a low of Rs 233.90 so far during the day. The stock had hit a 52-week high of Rs 317.95 on 20 July 2015. The stock had hit a 52-week low of Rs 173 on 12 February 2016. The stock had outrperformed the market over the past 30 days till 4 July 2016, rising 6.8% compared with Sensex's 1.62% rise. The scrip, however, underperformed the market in past one quarter, rising 7.22% as against Sensex's 9.63% gain.

The small-cap real estate developer has an equity capital of Rs 12.59 crore. Face value per share is Rs 2.

Shares of Sunteck Realty had dropped 8.54% to settle at Rs 232.40 yesterday, 4 July 2016 after Kotak Alternate Opportunities India Fund sold 10.25 lakh shares of the company at an average price of Rs 224.90 per share in a bulk deal on the BSE. On the same day, the fund sold 11.75 lakh shares of the company at an average price of Rs 226.58 per share in a bulk deal on the NSE.

On a consolidated basis, Sunteck Realty's net profit surged 292.53% to Rs 155.99 crore on 429.78% surge in net sales to Rs 743.23 crore in Q4 March 2016 over Q4 March 2015.

Sunteck Realty is a leading real estate developer, with a focus in Mumbai.

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