Shares of this smallcap company jumped around 2 percent in Tuesday’s trading session after Axis Mutual Fund bought 26 lakh shares via the bulk deal. The shares have delivered a multibagger return of 165 percent to its shareholders in one year.
With a market capitalization of Rs. 12,920 crores, the shares of Anant Raj Ltd started Tuesday’s trading session on a higher note at Rs. 376.50 compared to its previous close of Rs. 372.80. During the trading session, the shares hit a high of Rs. 382, gaining around 2 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 377 apiece.
According to the NSE bulk deal, Axis Mutual Fund A/C (Axis Small Cap Fund) bought 26 lakh equity shares i.e., equivalent to 0.76 percent of paid-up equity of the company at an average price of Rs. 368 per share via open market transactions, which amounted to Rs 95.68 crores.
Coming onto the company’s financial statements, the revenue increased by 13 percent from Rs. 392 crores during the December quarter to Rs. 443 crores in the March quarter. In addition, the net profits zoomed by 18 percent from Rs. 71 crores to 81 crores during the same period.
During the quarter, the company launched a luxury group housing project in Sector 63A, Gurugram, with a saleable area of 1 million square feet. Further, the company also expanded its Data Center operations, and enhanced cloud services in collaboration with TCIL.
Moreover, Anant Raj aims to capitalize on the robust demand in the real estate sector, with an estimated revenue potential of Rs 15,000 crores from residential sales over the next 4 to 5 years.
The company also plans to expand its township potential, acquire additional land parcels, and scale up its Data Center capacity to 307 MW IT Load within the next 4 to 5 years.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 5.29 percent and a return on capital employed (RoCE) of 5.57 percent for the period spanning FY22-23. On the other hand, during FY22-23 the net profit margin was at 15.09 percent.
Headquartered in New Delhi, Anant Raj was incorporated in 1985. The company is primarily engaged in the development and construction of IT parks, hospitality projects, SEZs, office complexes, shopping malls and residential projects in the State of Delhi, Haryana, Andhra Pradesh, Rajasthan and NCR.
Written By Vaibhav Patil
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