AJR Infra and Tolling touches roof as its arm enters into MoU to acquire stake in SMDPL
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AJR Infra and Tolling is locked its upper circuit limit at Rs. 1.83, up by 0.08 points or 4.57% from its previous closing of Rs. 1.75 on the BSE.
The scrip opened at Rs. 1.82 and has touched a high and low of Rs. 1.83 and Rs. 1.76 respectively. So far 209424 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 3.64 on 19-Jan-2022 and a 52 week low of Rs. 1.09 on 17-May-2021.
Last one week high and low of the scrip stood at Rs. 2.02 and Rs. 1.70 respectively. The current market cap of the company is Rs. 172.36 crore.
The promoters holding in the company stood at 20.60%, while Institutions and Non-Institutions held 17.38% and 62.02% respectively.
AJR Infra and Tolling’s step-down wholly-owned subsidiary -- Ras Cities and Townships (RCTPL) has entered into a Memorandum of Understanding (MoU) on May 13, 2022 with the Promoters of Sony Mony Developers (SMDPL) to acquire 10,000 equity shares of Rs 10 each of SMDPL, being 100% of total paid-up capital of SMDPL.
Upon completion of the said acquisition, SMDPL shall become a step-down wholly-owned subsidiary of the company. The acquisition will provide RCTPL entry into real estate development.
AJR Infra and Tolling (AJRITL) is an infrastructure project development company incorporated by Gammon India Limited, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
