Ansal Properties extends recent steep rally

Ansal Properties & Infrastructure rose 2.87% to Rs 23.30 at 9:30 IST on BSE, with the stock extending recent steep rally triggered by the company reporting strong Q2 September 2013 earnings.

Meanwhile, the S&P BSE Sensex was down 60.16 points or 0.29% at 20,830.66.

On BSE, 8,478 shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past two weeks.

The stock hit a high of Rs 23.70 and a low of Rs 22.85 so far during the day.

Shares of Ansal Properties & Infrastructure have rallied 29.44% in three trading sessions from Rs 18 on 14 November 2013 after the company after market hours on 14 November 2013 reported strong Q2 September 2013 results.

On a consolidated basis, Ansal Properties & Infrastructure's net profit surged 2062% to Rs 32.43 crore on 34.91% growth in sales and operating income to Rs 444.34 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxes, depreciation and amortization) surged 172.96% to Rs 78.64 crore in Q2 September 2013 over Q2 September 2012.

Ansal Properties & Infrastructure is engaged in the real estate development business. It is an integrated township developer with focus on mid-income housing space across various cities of Northern India (Haryana, Uttar Pradesh, Rajasthan & Punjab) wherein the company acts as a master developer for its integrated township and hi-tech township projects, starting from project conceptualization, planning, designing, construction and delivery.

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