Hot Pursuit     16-Mar-15
Ganesh Housing drops as foreign fund offloads bulk shares
Ganesh Housing Corporation fell 2.96% to Rs 111.50 at 10:14 IST on BSE after Merrill Lynch Capital Markets Espana SA SV sold 5.79 lakh shares of the company at an average price of Rs 105.05 per share in a bulk deal on NSE on Friday, 13 March 2015.

Meanwhile, the S&P BSE Sensex was down 11.55 points or 0.04% at 28,491.75.

On BSE, so far 4,690 shares were traded in the counter as against average daily volume of 24,798 shares in the past one quarter.

The stock hit a high of Rs 116.30 and a low of Rs 110.60 so far during the day. The stock had hit a 52-week low of Rs 69.50 on 21 March 2014. The stock had hit a 52-week high of Rs 218.05 on 7 July 2014.

The stock had underperformed the market over the past one month till 13 March 2015, sliding 10.96% compared with the Sensex's 2.03% fall. The stock had also underperformed the market in past one quarter, declining 10.9% as against Sensex's 4.21% rise.

The small-cap infrastructure developer has equity capital of Rs 32.67 crore. Face value per share is Rs 10.

Ganesh Housing Corporation's consolidated net profit rose 52.2% to Rs 13.50 crore on 11.1% growth in net sales to Rs 51.05 crore in Q3 December 2014 over Q3 December 2013.

Ganesh Housing Corporation is one of the leading real estate developers of Gujarat.

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