Bear of the day: Stock that lost 35% in 3 days

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Bear of the day: Stock that lost 35% in 3 days

Parsvnath Developers plummeted 4.355 or 1.20 to end at Rs 26.40 on the BSE. It touched an intraday high of Rs 28.15 and an intraday low of Rs 25.10. The share touched a 52-week low of Rs 25.10.

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Parsvnath BSE | NSE 30/05/12 Are Mutual Funds betting on Parsvnath? Other Stocks in this news DLF | Oberoi Realty | Housing Development and Infrastructure | Indiabulls Real Estate | Prestige Estates Projects | Godrej Properties | DB Realty | Anant Raj Industries | Sunteck Realty | Omaxe |

Parsvnath Developers plummeted 4.355 or 1.20 to end at Rs 26.40 on the BSE. It touched an intraday high of Rs 28.15 and an intraday low of Rs 25.10. The share touched a 52-week low of Rs 25.10. There were pending buy orders of 11,210 shares, with no sellers available. The total traded volumes were of 6,767,175 shares. Its market capitalisation stands at Rs 1,148.88 crore. However, the share was down 35.29% in last three days.

The company's trailing 12-month (TTM) EPS was at Rs 2.21 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 11.95. The latest book value of the company is Rs 51.39 per share. At current value, the price-to-book value of the company was 0.51.

What analyst says?

SP Tulsian of sptulsian.com said, "I think the worry is more on the pledged shares of the promoters. We see that they have been unable to meet the margin calls and there is likely to be the selling pressure by the lender. We have been seeing that they are passing through a huge liquidity crisis because, wherever they have been holding the land parcels in the cities other than NCR region, they have already exited."

He further added, "Even for the parcels, which they have been holding in NCR, they are not finding any buyer. So, they have the low quality of land bank plus huge liquidity pressure on the company coupled with pledged shares of the promoter. So, these things look to be the only problem areas for the stock."

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