Citigroup Global Markets purchased 98.7 thousand shares (0.5 per cent stake) in mid-sized construction player Era Constructions India.
The company is engaged in diversified construction activities for airports, power projects, infrastructure, industrial complexes, multiplexes and residential buildings. It recently bagged Rs 48 crore track laying contract from Rail Vikas Nigam.
However the company has seen a decline of 28 per cent in its stock price in a week amid weak sentiments in the market especially mid cap stocks.
Stock of the week
Kotak Mahindra Bank gained 6.6 per cent over the week to close at to Rs 261.70 on the back of strong Q1FY07 results. The consolidated total income and net profit of the bank grew by 70.5 per cent and 125 per cent y-o-y to to Rs 776.58 crore and Rs 104.43 crore respectively. Last month, Kotak Mahindra Bank had raised $100 million through an issuance of GDRs to step up its exposure to retail, small and medium enterprises. The bank is also said to be eyeing Japan, Korea, Middle East, Singapore, New York, and London to set up banking operations. | ||||||||||||||||
