Shares of HDIL (Housing Development & Infrastructure Ltd.) was up 3.11% to Rs 94.55 at noon time on BSE. This surge extends Friday’s gains attained by the company’s launch of a new residential project in Mumbai. On the BSE, 22.78 lakh shares were traded on the counter against the average daily volumes (ADV) of 17.95 lakh shares in the past one quarter. The stock had hit a high and low of Rs 96.80 and Rs 92.10, respectively, during the day.
HDIL stock had outperformed the market since the past one month till 21 April 2017, rising 17.41% compared with the Sensex fall of 0.41%. The scrip had also outperformed the market over the past one quarter, advancing 51.82% as against the rise of Sensex by 8.62%.
Shares of HDIL have risen 5.34% in two trading sessions from its closing of Rs. 89.75 on 20 April 2017, after it said that it has launched a new residential project at Mumbai. The stock had grown 2.17 percent to settle at Rs 91.70 on Friday, 21 April 2017. HDIL’s net profit dropped 83.8% to Rs 16.23 cr on 65.5% decline in consolidated sales to Rs. 109.32 cr in Q3 December 2016 year-on-year.