Ajmera Realty & Infra India rose 2.96% to Rs. 118.40 at 14:15 IST on BSE on Wednesday, August 24, after the company said it has approved the proposal to acquire the 90% stake in Laudable Infrastructure LLP.
The company made this announcement during market hours. Meanwhile, the BSE Sensex was down 131.20 points, or 0.8%, to 16,367.27.
On BSE, 25,084 shares were traded in the counter as against an average daily volume of 10,979 shares in the past one quarter.
The stock hit a high of Rs.123 and a low of Rs.116.20 so far during the day. The stock hit a 52-week high of Rs.296.60 on 20 September 2010. The stock had hit a 52-week low of Rs.110.05 on 22 August 2011.
The stock had underperformed the market over the past one month until 23 August 2011, falling 25.25% compared with the Sensex 11.88% fall. The scrip had also underperformed the market in past one quarter sliding 21.69% as against 8.31% decline in the Sensex.
The small-cap realty firm has equity capital of Rs.35.48 crore. Face value per share is Rs.10.
Ajmera Realty & Infra India said Laudable Infrastructure LLP (Laudable) has entered into a partnership with Ajmera Bora Associates, wherein Laudable holds 67% stake and rest 33% vests in Bora Group. This partnership firm holds land of about 1.87 lakh square feet (sq.ft.) in Pune.
Ajmera Realty’s consolidated net profit fell 7.4% to Rs.2.75 crore on 28% fall in total income to Rs.3.98 crore in Q1 June 2011 over Q1 June 2010.
