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The scrip of Ajmera Realty & Infra India rose by about 17 per cent to Rs 120.90 a share on news from certain quarters that the company is looking to sell off land on the outskirts of Mumbai city.
While industry insiders confirmed this, Mr O.P. Gandhi, CFO, Ajmera Realty, denied that the company had put up land for sale.
The company not only saw a spurt in stock prices but also saw an increase in the volumes traded. On the BSE, the two-week average trading volume for the stock is around 5,000 shares. But Wednesday's trading session saw around four lakh shares being traded on the exchange.
On the NSE, the stock was up 15.2 per cent to Rs 118.20, up Rs 15.65 per share. Around nine lakh shares were traded on the NSE at a total value of Rs. 10.95 crore.
On the BSE, the highest the stock touched during the day was Rs 122.45 a share, while the lowest was Rs 107.50. On the NSE, the highest was Rs 122 while the lowest was Rs. 107.40. The lowest price on both the BSE and the NSE was also the opening price of the day for the scrip. The BSE Sensex and the NSE Nifty were both up around 0.5 per cent on Wednesday. However, the realty indices on both the exchanges were both down by less than one per cent.
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