Phoenix Mills fell 6.69% to Rs 253 at 14:15 IST on BSE on profit booking after the stock rose 13.64% in the preceding eight trading sessions to Rs 271.15 on 22 April 2014, from a recent low of Rs 238.60 on 7 April 2014.
Meanwhile, the BSE Sensex was up 92.91 points, or 0.41%, to 22,851.28.
On BSE, so far 7,110 shares were traded in the counter, compared with an average volume of 6,166 shares in the past one quarter.
The stock hit a high of Rs 269.65 and a low of Rs 246.10 so far during the day. The stock hit a 52-week high of Rs 293 on 20 May 2013. The stock hit a 52-week low of Rs 185 on 3 September 2013.
The stock had outperformed the market over the past one month till 22 April 2014, rising 15.88% compared with the Sensex's 4.61% rise. The scrip had also outperformed the market in past one quarter, jumping 28.45% as against Sensex's 6.66% rise.
The mid-cap company has an equity capital of Rs 28.97 crore. Face value per share is Rs 2.
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Net profit of Phoenix Mills rose 10.78% to Rs 37.82 crore on 9.01% rise in net sales to Rs 75.59 crore in Q3 December 2013 over Q3 December 2012.
Phoenix Mills focuses on real estate development and entertainment. The group plans to foray into developing real estate in eight cities measuring a total of 214 lakh square feet. These include Mumbai, Bangalore, Chennai, Pune, Raipur, Agra and Indore. The plan includes retail units, entertainment complexes, commercial units, hotels, parking and residential complexes.
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