Hot Pursuit     12-Jan-10
Ansal Properties drops as promoters pledge additional shares
Ansal Properties & Infrastructure lost 1.05% to Rs 75.60 at 14:05 IST on BSE, after the company said promoters have pledged additional 23.68 lakh shares representing 1.92% of the equity capital of the company.

The company made this announcement during trading hours today, 12 January 2010.

Meanwhile, the BSE Sensex was down 59.94 points, or 0.34%, to 17,466.77.

On BSE, 3.40 lakh shares were traded in the counter as against an average daily volume of 4.57 lakh shares in the past one quarter.

The stock hit a high of Rs 78.25 and a low of Rs 75.20 so far during the day. The stock hit a 52-week high of Rs 89.20 on 5 October 2009 and a 52-week low of Rs 20.60 on 6 March 2009.

The small-cap stock had outperformed the market over the past one month till 11 January 2010, rising 7.83% as compared to the Sensex's 2.38% rise. It had underperformed the market in the past one quarter, falling 4.56% as compared to the Sensex's return of 5.31%.

The company's equity capital is Rs 61.56 crore. Face value per share is Rs 5.

The current price of Rs 75.60 discounts the company's Q2 September 2009 annualized EPS of Rs 11.59, by a PE multiple of 6.52.

The total promoter shareholding in the company is 64.47% (as on 30 September 2009).

The issue of pledged shares has gained importance after it was discovered that the entire promoter stake of the fraud-hit Satyam Computers was pledged with various financial institutions. Securities & Exchange Board of India (Sebi) has since made it mandatory for companies to disclose details related to pledge shares.

There are fears that the lenders may dump the pledged shares if the promoters fail to repay the loan.

Ansal Properties & Infrastructure's net profit rose 38.7% to Rs 33.74 crore on 30.1% rise in net sales to Rs 170.49 crore in Q2 September 2009 over Q2 September 2008.

The company is engaged in promotion and development of real estate, township development, construction of retail shopping malls, hospitals, hotels & clubs.

Previous News
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