Nitesh Estates lost 4.03% at Rs 11.42 at 09:46 IST on BSE after the company reported a consolidated net loss of Rs 37.20 crore in Q2 September 2017, higher than net loss of Rs 15.79 crore in Q2 September 2016.
Meanwhile, the S&P BSE Sensex was up 7.74 points, or 0.02% at 33,235.73. The S&P BSE Small-Cap index was up 64.56 points, or 0.36% at 18,192.48.
On BSE, 16,000 shares were traded in the counter as against an average daily volume of 1 lakh shares in the past one quarter. The stock hit a high of Rs 11.75 and a low of Rs 11.40 so far during the day. The stock had hit a 52-week high of Rs 14.61 on 29 November 2017. The stock had hit a record low of Rs 7.13 on 17 February 2017.
The stock had outperformed the market over the past one month till 12 December 2017, rising 16.1% compared with the Sensex's 0.59% rise. The scrip also outperformed the market over the past one quarter, gaining 23.32% as against the Sensex's 3.24% rise. The scrip, however, underperformed the market over the past one year, rising 20.93% as against the Sensex's 24.46% rise.
The small-cap real estate developer has an equity capital of Rs 145.83 crore. Face value per share is Rs 10.
Nitesh Estates' consolidated net sales fell 66.54% to Rs 29.34 crore in Q2 September 2017 over Q2 September 2016. The result was announced after trading hours yesterday, 12 December 2017.
Nitesh Estates, the real estate arm of the Nitesh Group, is an integrated property development company headquartered in Bangalore, with presence across 4 asset classes. Nitesh Estates develops homes, hotels, office buildings and shopping malls.
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