Housing Development & Infrastructure gained 2% to Rs 853.10 at 15:30 IST on BSE, on reports international hedge fund D E Shaw Composite Investments (Mauritius) has invested $250 million in Mack Star Marketing - a group company..
Meanwhile, BSE Sensex was down 33.03 points or 0.19% to 17,773.16.
On BSE, 3.26 lakh shares were traded in the counter. The scrip had an average daily volume of 4.24 lakh shares in the past one quarter.
The stock hit a high of Rs 878 and a low of Rs 845 so far during the day. The stock had a 52-week high of Rs 1432 on 10 January 2008 and a 52-week low of Rs 473.50 on 24 June 2007.
The mid-cap scrip had underperformed the market over the past one month till 26 February 2008, declining 16.56% compared to the Sensex’s decline of 1.91%. It had outperformed the market in the past one quarter, gaining 10.31% compared to Sensex’s decline of 5.98%.
The company’s current equity is Rs 214.27 crore. Face value per share is Rs 10.
The current price of Rs 853.10 discounts its Q3 December 2007 annualized EPS of Rs 50.45, by a PE multiple of 16.91.
Mack Star Marketing is developing a commercial complex of about 54,000 square meters in Andheri, Mumbai. The development rights were granted by Housing Development & Infrastructure (HDIL).
Earlier this year, HDIL bagged a slum rehabilitation project from the Maharashtra government aimed at rehabilitating slums in or around Mumbai airport spread over an area of 276 acres.
HDIL reported a net profit of Rs 270.23 crore on net sales of Rs 496.62 crore in Q3 December 2007. Figures of the corresponding previous year period were not available.
The Wadhawan group realty firm HDIL has significant operations in the Mumbai metropolitan region.
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