Nitesh Estates fell 1.22% to Rs 9.71 at 12:59 IST on BSE after the company said it partially redeemed non-convertible debentures held by IDFC for the aggregate value of Rs 70 crore.
The announcement was made after market hours yesterday, 21 December 2016.Meanwhile, the BSE Sensex was down 261.45 points, or 1%, to 25,980.93.
On the BSE, so far 2,698 shares were traded in the counter, compared with average daily volumes of 47,456 shares in the past one quarter. The stock had hit a high of Rs 9.94 and a low of Rs 9.71 so far during the day.
The stock hit a 52-week high of Rs 16.35 on 6 January 2016. The stock hit a 52-week low of Rs 9.45 on 20 December 2016.
Nitesh Estates said it redeemed 700 non-convertible debentures (unlisted NCD) out of 1,250 non-convertible debentures held by IDFC for the aggregate value of Rs 70 crore.
On a consolidated basis, Nitesh Estates reported net loss of Rs 27.68 crore in Q2 September 2016 as against net loss of Rs 14.32 crore in Q2 September 2015. Net sales rose 34.29% to Rs 65.95 crore in Q2 September 2016 over Q2 September 2015.
Nitesh Estates is a first generation real estate company headquartered in Bangalore. The company is focused on homes, hotels, shopping malls and office buildings.
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