Broking house, Karvy Stock Broking has maintained markets performer rating on the Anant Raj Industries .
Karvy Stock Broking report on Anant Raj Industries:
"Anant Raj Industries (ARIL) has announced another series of consolidation of real estate assets with group companies via share swap. ARIL had planned for mergers of its unlisted real estate holdings into the listed entity in three phases. The first two mergers have been previously announced. The third phase of mergers was announced recently by the company. It marked the entry of a major group company, Anant Raj Agencies Limited, into the listed entity. Apart from this, the company plans to make 21 unlisted entities as subsidiaries of the listed ARIL. The properties are being currently valued by an independent valuer. Also, the company is rapidly expanding its land bank over the last few months and has been quite aggressive in bidding for public-private projects."
"We are positive on the company's prospects in the near future. We intend to revise our target as and when the company releases complete details on the properties in the third merger, share swap ratio, new lands acquired and status of its public private partnership bids."
