/ ACGL Sell Its 49% Stake In Comet Power ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 10 February 2017

Ajmera Clean Green Energy (ACGL), a wholly owned subsidiary of Ajmera Realty & Infra India announced that the company has agreed to sell the entire 49% stake in its associate company, Comet Power Pvt. Ltd., (CPPL). The company has sold its stake to Ramesh A. Mehta Group for a consideration of Rs 16.91 crore.

Comet Power had reported a loss of Rs 2.67 lakh for the financial year ended March 31, 2016. Thus sale of power business will not have any impact in the profit of the company.

After the completion of the transaction, Comet Power will cease to be an associate of ACGL. Ajmera Realty & Infra India Ltd is currently trading at Rs 176.25, up by Rs 0.55 or 0.31% from its previous closing of Rs 175.7 on the BSE.

The scrip opened at Rs 179 and has touched a high and low of Rs 179.6 and Rs 174.25 respectively. So far 123318(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 623.38 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 183.45 on 03-Feb-2017 and a 52 week low of Rs 95.25 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 183.45 and Rs 169 respectively.

The promoters holding in the company stood at 61.94 % while Institutions and Non-Institutions held 0.13 % and 37.94 % respectively. The stock is currently trading above its 50 DMA.

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