Prestige Estates Projects jumped 4.55% to Rs 173.60 at 13:04 IST on BSE on bargain hunting after the stock tumbled 7.52% in the preceding six trading sessions to Rs 166.05 on 22 April 2014, from a recent high of Rs 179.55 on 10 April 2014.
Meanwhile, the BSE Sensex was up 114 points, or 0.50%, to 22,872.37.
On BSE, so far 8,835 shares were traded in the counter, compared with an average volume of 15,621 shares in the past one quarter.
The stock hit a high of Rs 175.40 and a low of Rs 168.90 so far during the day. The stock hit a 52-week high of Rs 195 on 4 April 2014. The stock hit a 52-week low of Rs 105.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 22 April 2014, rising 5.23% compared with the Sensex's 4.61% rise. The scrip had also outperformed the market in past one quarter, rising 9.32% as against Sensex's 6.66% rise.
The mid-cap company has an equity capital of Rs 350 crore. Face value per share is Rs 10.
Prestige Estates Projects' net profit fell 12.5% to Rs 80.55 crore on 11.9% decline in net sales to Rs 429.54 crore in Q3 December 2013 over Q3 December 2012.
Prestige Estates Projects is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bangalore.
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