Meanwhile, the S&P BSE Sensex was up 76.76 points or 0.28% at 27,864.38.

The stock spurted on heavy volumes. On BSE, so far 20.73 lakh shares were traded in the counter as against average daily volume of 3.15 lakh shares in the past one quarter. The stock hit a high of Rs 55.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 51.50 so far during the day. The stock had hit a 52-week low of Rs 27.55 on 26 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, sliding 5.05% compared with Sensex's 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 31.06% as against Sensex's 7.64% rise.

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

Anant Raj's board approved demerger of real estate division of Anant Raj Agencies (ARAPL) into Tauras Promoters & Developers (TPDPL) and subsequent amalgamation of remaining ARAPL with the company. The Board also approved demerger of project division of the company into Anant Raj Global (ARGL) and subsequent listing of ARGL at Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). These demerger schemes are subject to necessary approvals.

On consolidated basis, Anant Raj's net profit fell 27.9% to Rs 12.33 crore on 20% decline in net sales to Rs 116.23 crore in Q4 March 2016 over Q4 March 2015.

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