HomeNewsBusinessMarketsAjmera Realty soars to 52-week high as sales value surges 52% in Jul-Sep

Ajmera Realty soars to 52-week high as sales value surges 52% in Jul-Sep

Volumes in the counter also shot up as 11 lakh shares changed hands on the exchanges so far, significantly higher than the one-month daily traded average of 81,000 shares.

October 10, 2023 / 12:20 IST
Shares of Ajmera Realty have surged 35 percent year-to-date.

Shares of Ajmera Realty have surged 35 percent year-to-date.

Shares of Ajmera Realty and Infra India soared over 14 percent to hit a 52-week high of Rs 425.75 on October 10 after the company posted a 52 percent surge in sales value during the July-September quarter.

The real estate company's sales value rose to Rs 252 crore in the September quarter, sharply higher than Rs 166 crore in the same quarter of the previous fiscal.

In terms of carpet area, the company sold 1.20 lakh sq ft, up 51 percent from 79,976 sq ft from the corresponding quarter last year.

At 11.19 am, shares of Ajmera Realty were trading 12.50 percent at Rs 419.70 on the National Stock Exchange.

Volumes in the counter also shot up as 11 lakh shares changed hands on the exchanges so far, significantly higher than the one-month daily traded average of 81,000 shares.

Follow our live blog for all the market action

The stellar business update also ushered hopes among investors of a strong quarterly show from the realty major in its July-September earnings announcement, fueling gains in the counter.

Not just Ajmera, but a slew of real estate companies like Puravankara, Phoenix Mills and Prestige Estates have recently released robust quarterly updates which have aided sentiment for the entire sector. Accordingly, all constituents of the Nifty Realty index traded in the green, up 1-15 percent. Buoyed by gains across realty stocks, the Nifty Realty index also jumped 4.5 percent to a 15-year high of 610.85 points.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Moneycontrol News
first published: Oct 10, 2023 11:46 am

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
1