The company announced the stake sale before trading hours today, 7 January 2009.

Meanwhile, the BSE Sensex was up 89.03 points, or 0.86%, to 10,424.96.

On BSE, 1,565 shares were traded in the counter. The stock had an average daily volume of 71,842 shares in the past one quarter.

The stock hit a high of Rs 17.70 and a low of Rs 16.80 so far during the day. The stock hit a 52-week high of Rs 112 on 7 January 2008 and a 52-week low of Rs 12 on 3 December 2008.

The small-cap stock had outperformed the market over the past one month till 6 January 2009, gaining 22.55% as compared to the Sensex's return of 15.29%. It had underperformed the market in the past one quarter, declining 28.34% as compared to the Sensex's decline of 12.42%.

The company's current equity is Rs 82.62 crore. Face value per share is Rs 10.

The current price of Rs 17.70 discounts the company's Q2 September 2008 annualized EPS of Rs 0.18, by a PE multiple of 98.33.

The company has sold its entire 17% stake in BW Highway Star Hotel project in Pune to Kamat Hotels (India) and to Unity Realty & Developers, a subsidiary of Unity Infraprojects. The project was being developed by the BSEL in a joint venture with Unity and Kamat Hotel, BSEL said

BSEL Infrastructure Realty's net profit declined 84.3% to Rs 0.38 crore on 92.5% fall in net sales to Rs 0.78 crore in Q2 September 2008 over Q2 September 2007.

BSEL Infrastructure Realty is into real estate, property and infrastructure development.