The company made the announcement during market hours on Tuesday, 9 July 2013. Shares of Anant Raj rose 8.93% to Rs 55.50 on that day. The stock has risen 11.38% in two trading sessions from Rs 50.95 on Monday, 8 July 2013.

Meanwhile, the S&P BSE Sensex was down 15.16 points, or 0.08%, to 19,424.32.

On BSE, 7.07 lakh shares were traded in the counter as against an average daily volume of 2.94 lakh shares in the past one quarter.

The stock hit a high of Rs 58.50 and a low of Rs 56.05 so far during the day. The stock had hit a 52-week high of Rs 104.30 on 4 December 2012. The stock had hit a 52-week low of Rs 43 on 17 August 2012.

The stock had underperformed the market over the past one month till 9 July 2013, sliding 8.42% compared with the Sensex's 0.05% rise. The scrip had also underperformed the market in past one quarter, falling 4.31% as against Sensex's 6.66% rise.

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

Anant Raj said it received a licence from the Directorate of Town & Country Planning, Haryana, to set up a residential group housing colony at Sector 63-A, Gurgaon, Haryana over an area admeasuring 26.075 acres. The project will have a saleble area of 2.8 million square feet.

The company also received licences to set up commercial project at Sector 63-A, Gurgaon, Haryana over an area admeasuring 4 acres and 2.95 acres. The project will have saleable area of 0.8 million square feet.

On a consolidated basis, Anant Raj reported a net loss of Rs 34.56 crore in Q4 March 2013 compared with a net profit of Rs 12.21 crore in Q4 March 2012. Net sales surged 217.2% to Rs 140.60 crore in Q4 March 2013 over Q4 March 2012.

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