Nitesh Estates jumped 6.19% to Rs 14.40 at 10:31 IST on BSE after the company said it signed joint development agreement for Rs 170 crore project at Bangalore.
The company made the announcement after market hours on Wednesday, 27 August 2014.
Meanwhile, the BSE Sensex was up 96.84 points, or 0.36%, to 26,656.99.
On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 78,070 shares in the past one quarter.
The stock hit a high of Rs 14.90 and a low of Rs 14.25 so far during the day. The stock hit a 52-week high of Rs 18.70 on 9 June 2014. The stock hit a 52-week low of Rs 9.60 on 2 September 2013.
The stock had underperformed the market over the past one month till 27 August 2014, falling 9.30% compared with 1.66% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.87% as against Sensex's 8.19% rise.
The small-cap company has an equity capital of Rs 145.83 crore. Face value per share is Rs 10.
Nitesh Estates has signed up a joint development agreement for a new residential project which will have 262 residential units. The project located at prime Hosur Main Road in Bangalore will have easy access to the Electronic City, Outer Ring Road and major office complexes. The project will give a total revenue of Rs 170 crore to the company and will contribute to the profitability over the 36 months. The project will be launched shortly, the company said.
On a consolidated basis, Nitesh Estates reported a net loss of Rs 3.38 crore in Q1 June 2014 compared with net profit of Rs 4.55 crore in Q1 June 2013. Net sales fell 43.1% to Rs 56.39 crore in Q1 June 2014 over Q1 June 2013.
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 state-of-the-art homes, hotels, office buildings and shopping malls.Source: http://www.business-standard.com/
The company made the announcement after market hours on Wednesday, 27 August 2014.
Meanwhile, the BSE Sensex was up 96.84 points, or 0.36%, to 26,656.99.
On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 78,070 shares in the past one quarter.
The stock hit a high of Rs 14.90 and a low of Rs 14.25 so far during the day. The stock hit a 52-week high of Rs 18.70 on 9 June 2014. The stock hit a 52-week low of Rs 9.60 on 2 September 2013.
The stock had underperformed the market over the past one month till 27 August 2014, falling 9.30% compared with 1.66% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.87% as against Sensex's 8.19% rise.
The small-cap company has an equity capital of Rs 145.83 crore. Face value per share is Rs 10.
Nitesh Estates has signed up a joint development agreement for a new residential project which will have 262 residential units. The project located at prime Hosur Main Road in Bangalore will have easy access to the Electronic City, Outer Ring Road and major office complexes. The project will give a total revenue of Rs 170 crore to the company and will contribute to the profitability over the 36 months. The project will be launched shortly, the company said.
On a consolidated basis, Nitesh Estates reported a net loss of Rs 3.38 crore in Q1 June 2014 compared with net profit of Rs 4.55 crore in Q1 June 2013. Net sales fell 43.1% to Rs 56.39 crore in Q1 June 2014 over Q1 June 2013.
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 state-of-the-art homes, hotels, office buildings and shopping malls.Source: http://www.business-standard.com/
No comments:
Post a Comment