Hot Pursuit     29-Sep-14
Anant Raj gains after board's nod for sale of subsidiary
Anant Raj rose 3.44% to Rs 57.15 at 12:00 IST on BSE after the company said its board approved the sale of 100% equity stake in its wholly owned subsidiary Greatway Estates for a consideration of Rs 304.12 crore.

The announcement was made after market hours on Friday, 26 September 2014.

Meanwhile, the S&P BSE Sensex was up 34.41 points or 0.13% at 26,660.73.

On BSE, so far 2.34 lakh shares were traded in the counter as against average daily volume of 2.90 lakh shares in the past one quarter.

The stock hit a high of Rs 60 and a low of Rs 56.75 so far during the day. The stock had hit a 52-week high of Rs 84.80 on 11 June 2014. The stock had hit a 52-week low of Rs 40.45 on 1 October 2013.

The stock had underperformed the market over the past one month till 26 September 2014, sliding 1.69% compared with Sensex's 0.69% rise. The scrip had also underperformed the market in past one quarter, declining 24.52% as against Sensex's 6.24% rise.

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

Anant Raj's consolidated net profit fell 44.8% to Rs 10.71 crore on 11.4% decline in net sales to Rs 70.91 crore in Q1 June 2014 over Q1 June 2013.

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

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