Sunteck Realty shares down by nearly 10 percent

Bangalore: Sunteck Realty stock was among top losers after its price went down nearly 10 percent. After opening the day at Rs. 410, the stock touched its 52 week low of Rs. 275, before closing the trade at Rs. 381.15, with a loss of 9.75 percent. Through the day, 165715 shares of Sunteck Realty were traded in the market with a PE ration of 304.42.

Sunteck Realty is a real estate development company. It operates in Mumbai. The company diversified real estate product lines through residential, commercial, retail, hotels and entertainment parks. It operates under the brand names Sunteck, Signia and Signature across the commercial, luxury and premium housing segment. The company is engaged in realty and construction. The company's residential projects include Signature Island, Signia Isles, Signia Pearl, Signia Ocean, Signia High, Signia Skys, Signia City. Its commercial projects include Sunteck Grandeur, Sunteck Centre and Sunteck Kanaka corporate park. Its subsidiaries include Amenity Software, Magenta Computer software, Satguru Infocorp Services, and Piramal sunteck Realty.

Sunteck Realty has announced the financial results for the Quarter ended 30 September, 2010. The net sales stood at Rs. 53 million as compared to Rs. 90.5 million for the earlier quarter. The net profit also stood at Rs. 18.1 million as compared to Rs. 35.8 million for the earlier period. Out of four analysts following the stock, two are recommending buying the stock. The consensus recommendation is outperform.