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Westlife Development drops after block deals

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Capital Market
Last Updated : Nov 27 2013 | 11:55 PM IST

Westlife Development lost 4.92% to Rs 390 at 11:06 IST on BSE after two block deals aggregating 9.21 lakh shares were executed in the counter on BSE at Rs 417.85 per share at 10:31 IST.

One block deal was of 6.82 lakh shares while another block deal was of 2.39 lakh shares. The two block deals constitute 0.59% of Westlife Development's equity.

Meanwhile, the S&P BSE Sensex was down 6.66 points or 0.03% at 20,418.36.

On BSE, 9.24 lakh shares were traded in the counter as against average daily volume of 2,880 shares in the past two weeks.

The stock hit a high of Rs 417.85 and a low of Rs 390 so far during the day.

Westlife Development's consolidated profit after tax plunged 88.22% to Rs 1.04 crore on 10.7% growth in revenue to Rs 183.42 crore in Q2 September 2013 over Q2 September 2012.

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Westlife Development has widespread interests in trading, hospitality and quick service restaurant industry. The company's subsidiary -- Hardcastle Restaurants -- is a McDonald's franchisee with rights to own and operate McDonald's restaurants in India's west and south markets.

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First Published: Nov 27 2013 | 11:05 AM IST

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