HDIL jumps after special committee OKs allotting warrants to promoter

Housing Development & Infrastructure rose 6.43% to Rs 67.90 at 9:50 IST on BSE after a special committee of board approved allotment of 2 crore warrants at Rs 70.50 each to Sarang Wadhawan, promoter of the company.

The announcement was made on Saturday, 13 January 2018.

Meanwhile, the S&P BSE Sensex was up 230.94 points, or 0.67% to 34,823.33.

On the BSE, 25.57 lakh shares were traded in the counter so far, compared with average daily volumes of 31.83 lakh shares in the past two weeks. The stock had hit a high of Rs 69.05 and a low of Rs 65.40 so far during the day. The stock hit a 52-week high of Rs 101.85 on 16 May 2017. The stock hit a 52-week low of Rs 45.10 on 9 August 2017.

 

As on 30 September 2017, Sarang Wadhawan held 4.415% stake in Housing Development & Infrastructure (HDIL). Total promoter holding in the company stood at 36.49% as on 30 September 2017.

On a consolidated basis, HDIL's net profit rose 64.32% to Rs 60.88 crore on 26.09% decline in net sales to Rs 161.52 crore in Q2 September 2017 over Q2 September 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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