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Anant Raj Industries builds on launch of township project

Capital Market / 09:24 , Jan 19, 2012

Anant Raj Industries rose 2.67% to Rs 59.65 at 9:19 IST on BSE after the company said it is launching its township project -- Anant Raj Estate at Gurgaon in Haryana.

The company made this announcement after market hours on Wednesday, 18 January 2012.

Meanwhile, the BSE Sensex was up 184.46 points, or 1.12% to 16,635.93.

On BSE, 4,768 shares were traded in the counter as against average daily volume of 1.84 lakh shares in the past one quarter.

The stock hit a high of Rs 59.90 and a low of Rs 59 so far during the day. The stock had hit a 52-week low of Rs 35.30 on 22 December 2011. The stock had hit a 52-week high of Rs 105.05 on 27 January 2011.

The mid-cap stock had outperformed the market over the past one month till 18 January 2012, surging 29.83% compared with the Sensex's 6.2% return. The scrip also outperformed the market in past one quarter, gaining 18.33% as against 1.77% fall in the Sensex.

The company has an equity capital of Rs 59.02 crore. Face value per share is Rs 2.

Anant Raj Industries said it has already obtained license for the new Gurgaon township project. The township project comprises of luxury villas, plots, residential flats and independent floors. The project is located in the vicinity of planned high end development, both in corporate and commercial sectors. This phase of project is spread over 100 acres, the company said in a statement.

On a consolidated basis, Anant Raj Industries' net profit fell 27.8% to Rs 34.71 crore on 31.3% decline in net sales to Rs 91.26 crore in Q2 September 2011 over Q2 September 2010.

Anant Raj Group is one of the leading construction and infrastructure developers in North India.

 



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