Orbit Corporation jumped 4.09% to Rs 24.15 at 11:22 IST on BSE after Morgan Stanley Asia Singapore PTE acquired 1.09% stake in the company through block deal on Tuesday, 4 June 2014.
Meanwhile, the BSE Sensex was down 48.79 points, or 0.20%, to 24,809.80.
On BSE, so far 13.44 lakh shares were traded in the counter, compared with an average volume of 4.81 lakh shares in the past one quarter.
The stock hit a high of Rs 25.20 and a low of Rs 24 so far during the day. The stock hit a 52-week high of Rs 26.60 on 26 May 2014. The stock hit a record low of Rs 10.10 on 6 August 2013.
The stock had outperformed the market over the past one month till 3 June 2014, rising 15.14 % compared with 10.96% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 59.67% as against Sensex's 18.68% rise.
The small-cap company has an equity capital of Rs 113.96 crore. Face value per share is Rs 10.
On Tuesday, 3 June 2014, Morgan Stanley Asia Singapore PTE bought 12.40 lakh shares of Orbit Corporation at Rs 22.25 per share on NSE. Simultaneously, IFCI sold 8 lakh shares of Orbit Corporation at Rs 20.68 per share on NSE.
Orbit Corporation is a real estate development company in the Mumbai Metropolitan Region (MMR). Its business focuses on redevelopment projects in the Island City of Mumbai, including developing, designing high-end residential and built to suit commercial properties.
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