The company's board meet was held on Wednesday 17 February 2010 and the announcement of the outcome of the board meet was made after market hours that day.

Meanwhile, the BSE Sensex was down 95.05 points, or 0.58%, to 16,333.86

On BSE, 1.45 lakh shares were traded in the counter with pending buy orders to the tune of 5736 shares at the maximum limit. The stock had an average daily volume of 2.20 lakh shares in the past one quarter.

The stock hit a high of Rs 32.80 and a low of Rs 30.80 so far during the day. The stock hit a 52-week high of Rs 52.75 on 8 June 2009 and a 52-week low of Rs 12.50 on 30 March 2009.

The small-cap stock underperformed the market over the past one month till 17 February 2010, declining 17.22% compared with the Sensex's 6.41% fall. However, it outperformed the market in past one quarter, rising 4.34% as against 3.65% decline in the Sensex.

The company's current equity is Rs 39.70 crore. Face value per share is Rs 10.

The current price of Rs 32.80 discounts the company's Q3 December 2009 annualized EPS of Rs 0.40, by a PE multiple of 82

Prajay Engineers Syndicate will raise funds through global depository receipts (GDRs) or foreign currency convertible bonds (FCCBs) or qualified institutional placement (QIP) route. The company will convene an extra-ordinary general meeting on 15 March 2010 to seek its shareholders' nod for the proposal.

Prajay Engineers Syndicate reported net profit of Rs 0.40 crore in Q3 December 2009 as against Nil net profit in Q3 December 2008. Net sales rose 24.70% to Rs 17.37 crore in Q3 December 2009 over Q3 December 2008.

The company is engaged in engaged in development and construction of residential and commercial properties.