Monday, June 9, 2008
Bear run pushes DLF below issue price
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Realty estate stocks have hammered a lot in this bear phase, which had begun in the second half of January 2008. There are so many reasons to this fall, subprime crisis in US markets had impacted very badly. To soak up excess liquidity, RBI started increasing in CRR, interest rates and still no signs of softening those interest rates etc.
This free fall has pushed shares of big companies near to their 52-week lows or below issue price. Today DLF has slipped below its issue price at Rs 521.55 while issue price was Rs 525. Its 52-week low is 490. Puravankara Projects is also trading below its issue price at Rs 166.65 while issue price was Rs 400 and 52-week low is Rs 204.
Peninsula Land is just near to its 52-week low at Rs 60.75 while low is Rs 72.15. Shoba Developers is trading at Rs 445 while its 52-week low is at Rs 432.4; currently the stock is below issue price of Rs 640.
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Ansal Properties is trading at Rs 117.1 while 52-week low is 110.15.
If this selling continues like this, then real estate stocks would create new 52-week lows as well.
| Company | Intraday Low | 52-wk low | Current Price | % chg | Issue Price |
| 580.1 | 336.1 | 607.3 | 3.01 | - | |
| 605 | 477.5 | 653.9 | 2.52 | 500 | |
| 204 | 166.65 | 216.9 | 2.17 | 400 | |
| 72.15 | 60.75 | 74.95 | 1.49 | - | |
| 194.05 | 162.63 | 209.35 | 0.94 | - | |
| 865.55 | 315 | 917.1 | 0.04 | 540 | |
| 432.4 | 445 | 446.3 | -0.02 | 640 | |
| 177.05 | 169.05 | 183.4 | -0.08 | 300 | |
| 180.1 | 175.25 | 185.2 | -0.48 | 310 | |
| 373 | 242.1 | 404.35 | -1.87 | - | |
| 521.55 | 490 | 538.95 | -2.73 | 525 | |
| 110.15 | 117.1 | 114.95 | -2.91 | - | |
| 196.05 | 172.2 | 198.35 | -3.08 | - | |
| 288 | 326.05 | 317.6 | -4.34 | - |
NSE Prices as DLF hit 52-week low on NSE Source : moneycontrol.com
This post was written by: Franklin Manuel
Franklin Manuel is a professional blogger, web designer and front end web developer. Follow him on Twitter
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