Brigade Enterprises gained 1.06% to Rs 157.15 at 11:10 IST on BSE after the company announced that its joint venture has launched a lifestyle club resort at township in Bengaluru.
The announcement was made before market hours today, 27 June 2016.Meanwhile, the BSE Sensex was down 12.39 points, or 0.03%, to 26,390.29.
On BSE, so far 2,708 shares were traded in the counter, compared with an average volume of 9,030 shares in the past one quarter. The stock hit a high of Rs 160.85 and a low of Rs 154.35 so far during the day. The stock hit a 52-week high of Rs 186.80 on 17 June 2016. The stock hit a 52-week low of Rs 121 on 25 August 2015. The stock had underperformed the market over the past one month till 24 June 2016, rising 3.36% compared with 4.32% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 9.66% as against Sensex's 4.18% rise.
The mid-cap company has an equity capital of Rs 113.22 crore. Face value per share is Rs 10.
Brigade Enterprises said that BCV Developers Private Ltd., a joint venture between Brigade Enterprises, Classic Group and Valmark launched its latest lifestyle club 'Signature Club Resort' at Brigade Orchards, a 130 acre smart township in Devanahalli, Bengaluru. Signature Club Resort will be managed by Brigade Hospitality Services, a wholly owned subsidiary of Brigade Enterprises.
Brigade Enterprises' consolidated net profit declined 17% to Rs 35.86 crore on 20% rise in net sales to Rs 458.34 crore in Q4 March 2016 over Q4 March 2015.
Brigade Enterprises is Brigade Group's flagship company. Brigade Group was established in 1986, with property development as its main focus.
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