Oberoi Realty jumped 4.02% to Rs 194 at 12:13 IST on BSE on bargain hunting after recent weakness triggered by the company's weak Q3 December 2013 result.
Meanwhile, the BSE Sensex was down 12.11 points, or 0.06%, to 20,199.82.
On BSE, so far 5,603 shares were traded in the counter, compared with an average volume of 11,528 shares in the past one quarter.
The stock hit a high of Rs 195 and a low of Rs 187.05 so far during the day.The stock hit a record low of Rs 154 on 4 September 2013. The stock hit a 52-week high of Rs 297 on 19 February 2013.
Shares of Oberoi Realty tumbled 8.74% in the preceding two trading sessions to Rs 186.50 on 4 February 2014, from a recent high of Rs 204.35 on 31 January 2014.
The stock had underperformed the market over the past one month till 4 February 2014, falling 21.02% compared with the Sensex's 3.07% fall. The scrip had, however, outperformed the market in past one quarter, falling 1.92% as against Sensex's 4.84% decline.
The mid-cap company has an equity capital of Rs 328.23 crore. Face value per share is Rs 10.
On a consolidated basis, Oberoi Realty's net profit fell 49.4% to Rs 68.06 crore on 40.7% decline in net sales to Rs 169 crore in Q3 December 2013 over Q3 December 2012.
The company announced the result on Saturday, 1 February 2014. Shares of Oberoi Realty tumbled 6.41% to Rs 191.25 on Monday, 3 February 2014. It fell 2.48% to Rs 186.50 on Tuesday, 4 February 2014.
Oberoi Realty is a real estate developer headquartered in Mumbai.
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