Emami Infrastructure surges on plans to merge realty arm with Zandu Realty

19 Aug 2011

Emami Infrastructure is currently trading at Rs. 38.00, up by 0.60 points or 1.60% from its previous closing of Rs. 37.40 on the BSE.

The scrip opened at Rs. 35.55 and has touched a high and low of Rs. 38.70 and Rs. 35.55 respectively. So far 9041 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 64.00 on 19-Aug-2010 and a 52 week low of Rs. 26.55 on 11-Feb-2011.

Last one week high and low of the scrip stood at Rs. 38.70 and Rs. 34.95 respectively. The current market cap of the company is Rs. 90.88 crore.

The promoters holding in the company stood at 57.92% while Non-Institutions held 42.08%. 

Emami Infrastructure is planning to merge its subsidiary Emami Realty with the realty arm of Zandu Pharmaceuticals. Emami Group plans to merge Zandu Realty, Emami Realty and Emami Infrastructure together, to bring all its real estate businesses under one roof.

Emami Infrastructure was incorporated on objective of undertaking business of real estate developments and related activities. Pursuant to the scheme, the company has been vested with the real estate undertaking, as defined under the scheme, comprising inter-alia equity shares in Emami Realty and Zandu Realty (formerly The Zandu Pharmaceuticals Works) which are engaged in business in the real estate and infrastructure development sector. The company is involved in real estate and infrastructure development through its equity shareholding in the aforesaid companies.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323