India's Ajmera Realty & Infra hits over 13 yr high on new project

Ajmera Realty & Infra India

17/01/2022 06:32

** Construction firm's shares  AJME.NS  reverse from early
losses to rise as much as 5% to 428.10 rupees - their highest
level in more than 13 years 
    ** Ajmera Realty & Infra India will develop a residential
project at Wadala, in the Indian financial capital of Mumbai,
with estimated sales value of 15 bln rupees ($201.84 mln)
    ** Project has a total estimated cost of 9 bln rupees and
construction is expected to be completed in 5 years
    ** AJME recorded sales value of 6.25 bln rupees during the
pandemic (April 2020- Sept. 2021) in Wadala 
    ** More than 204,000 shares traded, 2.9 times their 30-day
moving avg


($1 = 74.3150 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))