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Mahindra Lifespace turns volatile after fixing record date for rights issue
20-Mar-17   15:14 Hrs IST
The announcement was made during market hours today, 20 March 2017.

Meanwhile, the S&P Sensex was down 131.95 points or 0.45% at 29,517.04. The BSE Small-Cap index was up 41.10 points or 0.29% at 14,053.73.

On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 21,722 shares in the past one quarter. The stock was volatile. The stock had hit a high of Rs 385.80 and a low of Rs 368 so far during the day.

The stock had hit a 52-week high of Rs 495.85 on 26 April 2016 and a 52-week low of Rs 342 on 16 February 2017. The stock had outperformed the market over the past one month till 17 March 2017, advancing 8.96% compared with the Sensex's 4.15% rise. The scrip had, however, underperformed the market over the past one quarter, rising 3.97% as against the Sensex's 11.93% rise.

The small-cap company has equity capital of Rs 41.05 crore. Face value per share is Rs 10.

Mahindra Lifespace Developers has fixed 31 March 2017 as record date for determining the shareholders eligible to apply for the rights issue of shares. The company intends to issue up to 1.02 crore shares at Rs 292 per share for an amount up to Rs 300 crore in the ratio of 1:4.

On a consolidated basis, Mahindra Lifespace Developers' net profit rose 48% to Rs 35.22 crore on 9.8% growth in net sales to Rs 213.08 crore in Q3 December 2016 over Q3 December 2015.

Mahindra Lifespace Developers is the real estate development business of the Mahindra Group.

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