Puravankara Projects rose 3.22% to Rs 81.85 at 14:05 IST on BSE after the company entered into an agreement to sell its 18 acre property located off Kanakapura Road, Bengaluru.
The announcement was made during market hours today, 1 July 2015.
Meanwhile, the S&P BSE Sensex was up 211.58 points or 0.76% at 27,992.41
On BSE, so far 2.21 lakh shares were traded in the counter as against average daily volume of 40,752 shares in the past one quarter.
The stock hit a high of Rs 87.75 and a low of Rs 79.30 so far during the day. The stock had hit a 52-week high of Rs 133.90 on 11 July 2014. The stock had hit a 52-week low of Rs 61.50 on 31 March 2015.
The stock had outperformed the market over the past one month till 30 June 2015, rising 13.94% compared with 0.17% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 25.97% as against Sensex's 0.7% decline.
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The small-cap realty firm has equity capital of Rs 118.57 crore. Face value per share is Rs 5.
Puravankara Projects said that property sale is a strategic decision and coincides with the company's business and capital strategy
Puravankara Projects' consolidated net profit fell 20.5% to Rs 20.45 crore on 9.5% rise in total income to Rs 410.51 crore in Q4 March 2015 over Q4 March 2014.
Puravankara Projects is a leading real estate company in India, with significant presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad and Mysore.
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