Godrej Properties lost 5% to Rs 359.75 at 15:10 IST on BSE as shares allotted by the company in its recently concluded rights issue were admitted for trading on the bourses today, 24 September 2013.
Meanwhile, the S&P BSE Sensex was up 12.08 points or 0.06% at 19,913.04.
On BSE, 20,112 shares were traded in the counter as against average daily volume of 5,757 shares in the past one quarter.
The stock hit a low of Rs 356.15 so far during the day, which is a record low for the counter. The stock hit a high of Rs 375.30 so far during the day. The stock had hit a 52-week high of Rs 640.32 on 7 December 2012.
The stock had underperformed the market over the past one month till 23 September 2013, declining 11.52% compared with the Sensex's 7.46% surge. The scrip had also underperformed the market in past one quarter, declining 22.53% as against Sensex's 6% gain.
The mid-cap real estate developer has equity capital of Rs 99.62 crore. Face value per share is Rs 10.
Godrej Properties raised Rs 700 crore this month through the rights issue which was priced at Rs 325 per share.
Godrej Properties' consolidated net profit surged 130.1% to Rs 39.48 crore on 11.6% decline in net sales to Rs 187.31 crore in Q1 June 2013 over Q1 June 2012.
Godrej Properties is into real estate development.
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