Anant Raj strengthens on getting nod to incorporate wholly owned subsidiary company

Anant Raj is currently trading at Rs. 58.70, up by 1.20 points or 2.09% from its previous closing of Rs. 57.50 on the BSE. The scrip opened at Rs. 57.90 and has touched a high and low of Rs. 59.20 and Rs. 57.30 respectively. So far 277087 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.65 on 20-May-2013 and a 52 week low of Rs. 40.45 on 01-Oct-2013. Last one week high and low of the scrip stood at Rs. 59.20 and Rs. 52.30 respectively. The current market cap of the company is Rs. 1727.79 crore. The promoters holding in the company stood at 63.44%, while Institutions and Non-Institutions held 16.69% and 19.69% respectively. Anant Raj has received an approval for incorporation of a wholly owned subsidiary company in the name of ‘Estate Management Services’ or such other name as may be approved by the Registrar of Companies, NCT of Delhi & Haryana. The board of directors at its meeting held on May 13, 2014 has approved for the same. The board also approved investment of up to Rs 500,000 each, in the entire equity share capital of Bigtown Promoters & Developers, Bigtown Properties, Eastman Developers, Eastman Properties and Equinox Promoters. Pursuant to the acquisition of share capital, it would become the wholly owned subsidiaries of the company. Anant Raj is armed with one of the largest land banks in the region and is in the process of building an array of Special Economic Zones (SEZs), IT Parks, Hotels, Commercial Complexes, Malls, Residential / Service Apartment and other infrastructure projects.