Anant Raj Industries rose 0.93% to Rs 326.40 at 10:33 IST on BSE, after the company said it has got approval from the Ministry of Commerce, Government of India for developing an information technology special economic zone in 25 acres at Rai, Haryana
The company made this announcement before market hours today, 27 February 2008.
Meanwhile, BSE Sensex was up 286.38 points or 1.61% to 18,092.57, on positive cues from the global markets. Asian stocks surged today after weak US economic data and comments from a Federal Reserve official signaled that US interest rates will continue to head lower. Fed Vice Chairman Donald Kohn said on Tuesday, 26 February 2008, that a weak US economy was a bigger worry than higher inflation risks.
On BSE, 2,096 shares were traded in the counter. The scrip had an average daily volume of 74,005 shares in the past one quarter.
The stock hit a high of Rs 330 and a low of Rs 323.05 so far during the day. The stock had a 52-week high of Rs 394.95 on 15 January 2008 and a 52-week low of Rs 187.20 on 20 March 2007.
The mid-cap scrip had underperformed the market over the past one month till 26 February 2008, declining 7.34% compared to the Sensex’s decline of 1.91%. It had outperformed the market in the past one quarter, rising 1.70% compared to Sensex’s decline of 5.98%.
The company’s current equity is Rs 54.99 crore. Face value per share is Rs 2.
The current price of Rs 326.40 discounts its Q3 December 2007 annualized EPS of Rs 17.64, by a PE multiple of 18.50.
Anant Raj Industries’ net profit rose 186.6% to Rs 121.27 crore on 151.6% growth in net sales to Rs 182.75 crore on Q3 December 2007 over Q3 December 2006.
The company constructs and invests in residential buildings, commercial complex and hospitality sector. It also manufactures and supplies plain and printed floor and wall tiles in various sizes.
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