Financial Daily from THE HINDU group of publications
Thursday, Mar 09, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 09, 2006 |
|
|
|
|
|
|
|
Markets
-
Stocks Industry & Economy - Real Estate & Construction Rajeswari Foundations firm on township project Jayanta Mallick
The mega plan Company plans township projects exclusively for NRIs, software professionals Looking out for appropriate land in Bangalore, Hyderabad
Kolkata , March 8 Rajeswari Foundations, a Chennai-based construction company, has been drawing attention from some market players. The stock has gained over 61 per cent in the last one month. Traded quantity also suggests steady activity (more than 90,000 shares on an average per day on the BSE in the last two weeks) in the counter. The stock closed at Rs 20.7 on Wednesday on the exchange against Tuesday's close of Rs 19.9 after hitting the day's high of Rs 21.85; the stock's 52-week high is Rs 22.3, which it had touched on Tuesday. According to analysts, new townships, malls and multiplex project plans in cities such as Bangalore and Hyderabad and the profitability of the Chennai project, currently underway, have triggered market interest. The Chennai township project, slated for completion by March 31, 2008, is estimated to reap in a profit of Rs 30 crore, market sources pointed out. Mr G. Rammurti, CMD, confirmed to Business Line that the new township projects, like in Chennai would be exclusively for NRIs and software professionals. "We are searching for appropriate land (10 to 15 acres for each project) in Bangalore and Hyderabad. The tentative timeframe for taking up these two township projects is mid 2007 for Bangalore and end 2007 for Hyderabad. Plans for constructing independent multiplexes are also on the drawing board. We may take up the first project in Bangalore," Mr Rammurti explained. The Chennai project would have 450 bungalows and the township would have support amenities such as shopping malls, multiplexes, entertainment parks, a power back-up system and telecom facilities.
More Stories on : Stocks | Real Estate & Construction
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|