Orbit Corporation gained 7.10% to Rs 515 at 10:23 IST on BSE after the firm sold a stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings for Rs 200 crore.
The company made this announcement after trading hours on
Meanwhile, BSE Sensex was down 22.67 points or 0.14% to 15,901.05.
On BSE, 2,301 shares were traded in the counter. The scrip had an average daily volume of 74,867 shares in the past one quarter.
The stock hit a high of Rs 516.90 and a low of Rs 486.15 so far during the day. The stock had a 52-week high of Rs 1079.95 on
The company’s current equity is Rs 36.27 crore. Face value per share is Rs 10.
The current price of Rs 515 discounts Q3 December 2007 annualized EPS of Rs 21.64 by a PE multiple of 23.80.
The investment would be used to develop township projects in metropolitan region.
Orbit Corporation reported a net profit of Rs 19.62 crore on net sales of Rs 72.56 crore in the Q3 December 2007. Figures of the corresponding previous year period were not available.
Orbit Corporation is a real-estate construction and development company with primary focus on redevelopment of existing properties. The company specializes in developing, designing and managing high-end residential and commercial properties.
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