Brigade Enterprises rose 1.57% to Rs 51.75 at 13:26 IST on BSE after the company said it launched another project in Mysore.
The company made the announcement after market hours on Friday, 6 September 2013.
Meanwhile, the BSE Sensex was up 517.02 points, or 2.68%, to 19,787.08
On BSE, 4,732 shares were traded in the counter compared with average volume of 7,062 shares in the past one quarter.
The stock hit a high of Rs 52.50 and a low of Rs 51.25 so far during the day. The stock hit a 52-week low of Rs 45.10 on 7 August 2013. The stock hit a 52-week high of Rs 112.60 on 19 December 2012.
The stock had outperformed the market over the past one month till 6 September 2013, rising 10.40% compared with the Sensex's 2.87% rise. The scrip had, however, underperformed the market in past one quarter, sliding 23.90% as against Sensex's 1.28% fall.
The small-cap company has an equity capital of Rs 112.25 crore. Face value per share is Rs 10.
Brigade Enterprises said the group launched another project in Mysore, known as Brigade Symphony. The 7 acre luxury aparment project in Mysore is located on KRS Road, just 200 meters from the Ring Road, the company said.
Brigade Symphony will feature 304 well-planned, spacious luxury apartments with areas ranging from 790 square feet (sq. ft.) to 3360 sq. ft. The project is a contemporary expression of the Mysore way of life. Every apartment has a spacious patio. The living spaces are large, spacious and exude a feeling of comfort. The open spaces of over 5 acres comprise of green spaces, playgrounds and walkways that are undisturbed by vehicular traffic, the company said in a statement.
The project will have a clubhouse with a gymnasium and multipurpose hall, tennis, badminton and basketball courts and a half Olympic-sized swimming pool for a healthy and balanced lifestyle, it added.
Brigade Enterprises' net profit fell 53.6% to Rs 6.67 crore on 3.3% growth in net sales to Rs 120.34 crore in Q1 June 2013 over Q1 June 2012.
Bangalore-based realty developer Brigade Enterprises has presence in residential, commercial and retail segments.
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