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Thursday, July 31, 2008

Equity Alert: Puravankara up 10% on improved Apr-Jun earnings



 
 
Equity Alert: Puravankara up 10% on improved Apr-Jun earnings
Wednesday, Jul 30

Equity Alert: Puravankara up 10% on improved Apr-Jun earnings
    MUMBAI--3:45PM--Shares of Puravankara Projects ended at 199
rupees, up
10%, after it announced improved Apr-Jun earnings.
    The company's Apr-Jun consolidated net profit rose 41% year-on-
year to
619 mln rupees. Net sales increased 31% to 1.57 bln rupees.
    The company said lower selling, general and administrative
expenses and
higher gross profit margin drove net profit margin up to 39%.
    The company said it is confident of maintaining its profit margin
at
high levels.
    The company's shares moved up to a high of 216.90 rupees. They are
expected to rise further but may face resistance at 222 rupees
    On NSE, 240,832 Puravankara Projects shares were traded today.
 
 


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