Ajmera Realty gains after incorporating subsidiary in London

Ajmera Realty & Infra India rose 3.08% to Rs 190.50 at 10:09 IST on BSE after the company said it incorporated a wholly-owned subsidiary company in London.

The announcement was made after market hours yesterday, 28 December 2015.

Meanwhile, the BSE Sensex was up 55.34 points, or 0.21%, to 26,089.47.

On BSE, so far 75,000 shares were traded in the counter, compared with an average volume of 69,247 shares in the past one quarter.

The stock hit a high of Rs 192.20 and a low of Rs 185.50 so far during the day. The stock hit a 52-week high of Rs 191.90 on 27 May 2015. The stock hit a 52-week low of Rs 89.35 on 29 January 2015.

The stock had outperformed the market over the past one month till 28 December 2015, rising 13.51% compared with 0.36% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 78.03% as against Sensex's 1.63% rise.

The small-cap company has an equity capital of Rs 35.48 crore. Face value per share is Rs 10.

Ajmera Realty & Infra India said it has incorporated a wholly-owned subsidiary company, Ajmera Corporation UK, a company limited by shares, in Wembley, London, United Kingdom. This investment is planned for real estate construction and development projects in London, United Kingdom, the company added.

On a consolidated basis, net profit of Ajmera Realty & Infra India rose 441.96% to Rs 6.07 crore on 567.84% rise in net sales to Rs 55.23 crore in Q2 September 2015 over Q2 September 2014.

Ajmera Realty & Infra India is a real estate company.

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