HDIL moves up as FIIs increase stake in the company in Q4FY14

Housing Development & Infrastructure (HDIL) is currently trading at Rs. 73.90, up by 0.05 points or 0.07 % from its previous closing of Rs. 73.85 on the BSE. The scrip opened at Rs. 74.50 and has touched a high and low of Rs. 75.40 and Rs. 73.20 respectively. So far 871473 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 81.40 on 15-Apr-2014 and a 52 week low of Rs. 26.10 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 81.40 and Rs. 70.20 respectively. The current market cap of the company is Rs. 3098.53 crore. The promoters holding in the company stood at 36.17% while Institutions and Non-Institutions held 38.54% and 25.29% respectively. Foreign Institutional Investors (FIIs) have increased their stake in Housing Development & Infrastructure (HDIL) during Q4FY14 to 38.33%. As on December 31, 2013, the FIIs stake in the company stood at 33.24%. Meanwhile, domestic institutional investors too increased their holding in the company to 0.21% from 0.15%. As on March 31, 2014, the promoters holding in the company stood at 36.17% while Institutions and Non-Institutions held 38.54% and 25.29% respectively. Recently, Credit Suisse (Singapore) bought 21.42 lakh shares of HDIL through open market route. The shares were purchased on an average price of Rs 73.81 valuing the transaction to Rs 15.81 crore. 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).