Realty major that lost 41% market cap

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Realty major that lost 41% market cap

A real estate major, Unitech has lost almost 41% of its marketcap in the last one month. However, today it has ended at Rs 34.25, down Re 1, or 2.84% on the BSE. It has touched an intraday high of Rs 35.80 and an intraday low of Rs 34.05.

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India's second largest realty firm,  Unitech has lost almost 41% of its marketcap in the last one month. The stock today ended at Rs 34.25, down Re 1, or 2.84% on the BSE. It touched an intraday high of Rs 35.80 and an intraday low of Rs 34.05. There were pending buy orders of 7,120 shares, with no sellers available. The total traded volumes were of 4,855,013 shares.

The stock touched its 52-week high of Rs 98.45 and 52-week low of Rs 32.35 on October 7, 2010 and February 10, 2011, respectively. Currently, it is trading 65.21% below its 52-week high and 5.87% above its 52-week low. Its market capitalisation stands at Rs 8,960.83 crore.

The company's trailing 12-month (TTM) EPS was at Rs 2.26 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 15.15. The latest book value of the company is Rs 30.34 per share. At current value, the price-to-book value of the company was 1.13. The dividend yield of the company was 0.58%.

Today, the realty sector dropped 3.48% in trade to fall to 1,954 as the Sensex shed 545.92 points or 3%, to close at 17,632.41 and the Nifty dropped 174.65 points or 3.21%, to end at 5262.70. The BSE Midcap and Smallcap indices too tanked 3% each.

Results:

The company's Q3 net profit was down 37% at Rs 111 crore versus Rs 176 crore. Its net sales were down 15% at Rs 659 crore versus Rs 774 crore.

As on December 31, 2010 the company's net debt reduced to Rs 4,617 crore on account of higher sales bookings.

What analyst says:

On February, 23 Rahul Mohindar of viratechindia.com said, "On the short side I would look at selling real estate. DLF and Unitech continue to look negative. Downsides of 4% to 5% can probably be seen in a session or two."

Peer comparison: