Shares of Ajmera Realty & Infra India Ltd. surged over 9% on Tuesday to the highest in over 16 years after the real estate company's sales jumped twofold. The real estate firm reported sales of Rs 287 crore for quarter-ended March versus Rs 140 crore year-on-year. Its sales area rose 63% annually to 1.13 lakh square feet during the three-month period.
Ajmera's collection rose 91% to Rs 197 crore, according to an exchange filing.
On the NSE, Ajmera's stock rose as much as 9.63% during the day to Rs 863 apiece, the highest since Feb. 27, 2008. It was trading 3.75% higher at Rs 816.70 apiece, compared to a 0.38% advance in the benchmark Nifty as of 10:34 a.m.
The share price has risen 160.75% in the last 12 months. The total traded volume so far in the day stood at 8.7 times its 30-day average. The relative strength index was at 68.43.
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