Prestige Estates Projects fell 2.60% to Rs 159.10 at 10:40 IST on BSE on profit booking after the stock surged 23.66% in the preceding four trading sessions to Rs 163.35 on 6 March 2014, from a recent low of Rs 132.10 on 28 February 2014.
Meanwhile, the BSE Sensex was up 198.05 points, or 0.92%, to 21,711.92.
On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 13,490 shares in the past one quarter.
The stock hit a high of Rs 165 and a low of Rs 158.60 so far during the day. The stock hit a 52-week high of Rs 192.35 on 17 May 2013. 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 6 March 2014, rising 19.54% compared with the Sensex's 5.92% rise. The scrip had also outperformed the market in past one quarter, rising 6.80% as against Sensex's 2.46% rise.
The mid-cap company has an equity capital of Rs 350 crore. Face value per share is Rs 10.
Net profit of Prestige Estates Projects declined 12.49% to Rs 80.55 crore on 11.92% 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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