India's Ajmera Realty hits more than 15-1/2 yr high on JV project

Ajmera Realty & Infra India

18/01/2024 08:12

** Shares of Ajmera Realty & Infra India  AJME.NS  rise as
much as 8.3% to 547 rupees, highest price since May 27, 2008    
    ** Stock has since pared some gains to trade up 6.2%, as of
1:30 p.m. IST
    ** Co said, Ajmera Luxe Realty, a JV between AJME and
Keystone Realtors  KEYS.NS  will redevelop a society in Bandra 
    ** Adds, both companies will hold a 50% stake in the
project, which is expected to generate gross development value
of 7.6 bln rupees ($91.41 mln)
    ** Trading vol is 2.5x the 30-day daily avg
    ** Stock rose 42% in 2023, its fourth straight year of
yearly gains




($1 = 83.1425 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))