GHC under pressure as Reliance Mutual Fund sells shares

Ganesh Housing Corporation is trading in red on NSE. The stock is down as Reliance Mutual Fund has sold 2,57,950 shares of the company, thereby hiving off 0.53% of its stake at Rs 82.17 per share in a bulk deal on the National Stock Exchange. Ganesh Housing Corporation is trading in red on NSE. The stock is down as Reliance Mutual Fund has sold 2,57,950 shares of the company, thereby hiving off 0.53% of its stake at Rs 82.17 per share in a bulk deal on the National Stock Exchange.

Feb 02, 2017 12:02 IST India Infoline News Service

Ganesh Housing Corporation is trading in red on NSE. The stock is down as Reliance Mutual Fund has sold 2,57,950 shares of the company, thereby hiving off 0.53% of its stake at Rs 82.17 per share in a bulk deal on the National Stock Exchange.

Ganesh Housing Corporation in the last one year has surged by 17.52%, and currently is trading with a P/E of 7.22.

Reliance Mutual Fund is the only fund house which has invested in the stock of the company.Ganesh Housing Corporation is engaged in the business of construction and real estate development in Ahmedabad. The company is developing several projects in the residential, commercial, hospitality, SEZs, integrated townships and retail segment.
 
Stock view:
 
Ganesh Housing Corporation Ltd is currently trading at Rs 82.3, up by Rs 0.2 or 0.24% from its previous closing of Rs 82.1 on the BSE.
 
The scrip opened at Rs 83.9 and has touched a high and low of Rs 84 and Rs 81.45 respectively. So far 273702(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 402.31 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 93 on 14-Jul-2016 and a 52 week low of Rs 56.73 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 85 and Rs 75.1 respectively.
 
The promoters holding in the company stood at 56.25 % while Institutions and Non-Institutions held 10.38 % and 33.38 % respectively.
 
The stock is currently trading above its 200 DMA.

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