Godrej Industries was locked at upper limit of 5% at Rs 278.10 at 13:43 IST on BSE extending gains for third consecutive day on reports it plans to list its real estate arm.
The stock has gained 10.22% from Rs 252.30 on
Meanwhile, the BSE Sensex was down 47.49 points, or 0.27%, to 17,778.50, as a sharp drop in US durable goods orders and US home sales fueled recession concerns in the world's biggest economy.
On BSE, 2.74 lakh shares of the scrip were traded. The stock had an average daily volume of 2.04 lakh shares on BSE in past one quarter.
The scrip had touched a low of Rs 274 so far during the day. The stock had hit a 52-week high of Rs 504.50 on
The scrip had underperformed the market in the one month to
The mid-cap diversified firm has an equity capital of Rs 31.98 crore. Face value per share is Rs 1.
At the current price of Rs 278.10, the scrip trades at a PE multiple of 67.14, based on Q3 December 2007 annualised EPS of Rs 4.14.
Godrej Properties, will file papers for an initial public offer with the markets regulator, Securities and Exchange Board of India in a few days, reports suggest. Godrej Industries currently holds 81.69% in the real estate unit, of which 10% will be diluted, the reports added.
Godrej Properties is currently developing about 20 million square feet in Mumbai, Pune, Kolkata,
The net profit of Godrej Industries rose 2.5% to Rs 33.06 crore on 24.8% rise in sales to Rs 190.97 crore in Q3 December 2007 over Q3 December 2006.
Godrej Industries is
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