The BSE Sensex was up 65.88 points, or 0.32%, to 20752.70.

On BSE, 6.80 lakh shares of the scrip were traded. The stock had an average daily volume of 3.82 lakh shares on BSE in past one quarter.

The scrip had touched a high of Rs 165 and a low of Rs 159 so far during the day. The stock had hit a 52-week high of Rs 167.60 on 13 December 2007 and a 52-week low of Rs 60.88 on 8 March 2007.

The scrip had outperformed the market in the one month to 4 January 2008, adding 13.17% as against the Sensex's 4.50% rise. It had also outperformed the market in the past three months, soaring 41.92% against the Sensex's 16.39% rise.

The Ashok Piramal group real estate arm has an equity capital of Rs 55.84 crore. Face value per share is Rs 2.

At the current price of Rs 163, the scrip trades at a PE multiple of 5.69, based on Q2 September 2007 annualised EPS of Rs 28.62.

According to reports, these foreign funds purchased in the stake Peninsula Land through qualified institutional placement (QIP) route. The deal values the company at just over Rs 5,000 crore.

Reportedly, the transaction is expected to cut the promoter holding in Peninsula to 52.54% from 62.3%. UBS Capital and Enam Capital advised the company on the transaction.

Peninsula land’s net profit fell 56.10% to Rs 33.69 crore on 14.20% rise in sales to Rs 117.37 crore in Q2 September 2007 over Q2 September 2006.

Peninsula Land (PLL), formerly known as Morarjee Realties, is known for its concept-based architecture in the commercial, retail and residential sectors. Some of the company's real-estate projects are Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers and Ashok Gardens.