HDIL jumps on getting interim relief in slum rehab case from Bombay HC

01 Jul 2013

HDIL is currently trading at Rs. 41.25, up by 3.95 points or 10.59% from its previous closing of Rs. 37.30 on the BSE.

The scrip opened at Rs. 37.30 and has touched a high and low of Rs. 42.60 and Rs. 36.75 respectively. So far 6049392 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.95 on 16-Jan-2013 and a 52 week low of Rs. 31.75 on 25-Jun-2013.

Last one week high and low of the scrip stood at Rs. 37.60 and Rs. 31.75 respectively. The current market cap of the company is Rs. 1722.11 crore.

The promoters holding in the company stood at 36.17% while Institutions and Non-Institutions held 32.98% and 30.86% respectively.

HDIL, Mumbai based realty developer has reportedly received interim relief from Bombay High Court in slum rehab case involving the company, Mumbai International Airport (MIAL) and Slum redevelopment authority (SRA). The High Court has barred SRA from initiating proceedings for repossession of tenements built by HDIL under slum rehabilitation project of MIAL. Earlier in May this year, the MIAL terminated the contract with the company for the slum rehabilitation project and HDIL had moved court against MIAL, SRA and MMRDA. The case is expected to be heard on July 10.

HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).


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