On December 17, Anant Raj share price opened at ₹793.60, reached a high of ₹839.70, and dropped to a low of ₹791.05. As of 10:34 AM, the stock was trading at ₹828.80, up by 5.28%.
Anant Raj shares reached a new high of ₹824, gaining 5% in intra-day trade on December 17, 2024. This surge came after the company approved the allotment of 1.37 million convertible warrants, worth ₹100 crore, to its promoter, Shri Ashok Sarin Anant Raj LLP.
The stock has rallied by 9% in the last 2 days, outperforming the BSE Sensex, which was down 0.4% at the time. In December 2024, Anant Raj gained 22%, compared to a 2% rise in the Sensex. Year-to-date, the stock has risen by 175%, while the Sensex has gained 12.66%.
The company announced plans to raise up to ₹2,000 crore through a Qualified Institutional Placement (QIP). They also aim to invest around ₹1,000 crore to develop four projects in Gurugram, Delhi, and Tirupati. Anant Raj also focuses on reducing its debt and expects to be debt-free by the end of 2024.
Anant Raj is actively involved in real estate development in the NCR, Rajasthan, and Haryana. The company also has aggressive plans in the data centre and cloud sectors, with plans to scale its data centre capacity from 6MW to 307MW in the next 4-5 years.
Anant Raj holds 220 acres of land in Gurugram and 101 acres in Delhi, with significant development potential. The company’s planned land developments could generate a gross development value (GDV) of ₹10,000 crore.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 17, 2024, 10:49 AM IST
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