scorecardresearch

This stock held by Rakesh Jhunjhunwala rose 56% in 3 days

The stock has gained 84 per cent in the last one month and risen 59 per cent since the beginning of this year

Representative Image Representative Image

Share of Prozone Intu Properties rose 10 per cent to hit a fresh 52-week high of Rs 31.75 in intraday session on BSE today.

The stock was locked in the 10 per cent upper circuit for the second day.

The share stood at Rs 20.4 on May 26, 2020. It has zoomed to Rs 31.75 today, translating into gains of 55.6 per cent in the past three days. The stock has gained 84 per cent in the last one month and risen 59 per cent since the beginning of this year.

The stock opened 3.8 per cent higher at Rs 30.00 against the previous close of Rs 28.90. The share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.

Market cap of the firm rose to Rs 484.51 crore.

As per the shareholding pattern data, Rakesh Jhunjhunwala holds 2.06 per cent stake or 31,50,000 shares of the company.

Apart from the Big Bull, ace investor Radhakishan Damani holds 19,25,000 shares of the company, which amounts to 1.26 per cent stake in the company.

The company has shopping centers in Aurangabad & Coimbatore with future expansions in Nagpur & Mumbai. Its partner Intu Properties Plc, UK owns and manages 12 of the top 20 UK Shopping Centres including Iconic Lakeside Thurrock, Trafford Centre, and Metro Centre among others.

"Gradual recovery of business seen in both the malls, 2 new stores opened in Aurangabad and one new store signed in Coimbatore Mall in Q3 FY21," the company said in an investor presentation.

"Amongst the categories, Electronics (Mobiles & Computers) showed growth of over 50% over last year sales, followed by Lifestyle accessories which showed positive growth in sales during the festival period over last year," it added.

The company reported a net loss of Rs 45 crore for nine months ended December 2020 compared to a loss of Rs 2.7 crore during the same period last year. Total income declined 73 per cent to Rs 17.93 crore from Rs 67.27 crore.

Prozone Intu is a debt-free company and has 17.79 million sq. ft. of fully paid-up land bank in prime locations with 1.2 million developed till date and more than 16.5 million sq. ft. being developed in different phases.