Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Glenmark Pharmaceuticals to achieve a target between Rs 274 – Rs 300 in 2-3 trading sessions.
Stock market analyst VK Sharma maintained ‘Buy’ rating on Anant Raj Industries to achieve an intraday target of Rs 123.
According to Mr. Sharma, interested traders can buy the stock around 117.10 with a strict stop loss of Rs 114.
The shares of the company, on Tuesday (July 21), closed at Rs 117.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 12.40 & 9.76 respectively. The share price has seen a 52-week high of Rs 169.90 and a low of Rs 37 on BSE.
Anant Raj Industries Ltd has declared that the company’s directors at its meeting held on July 10, 2009, inter alia, have given their nod for the allotment of 2,00,00,000 (Two Crores) Fully Convertible Warrants to Anant Raj Meadows Pvt. Ltd, a Promoter group Company on preferential basis, in terms of Chapter XIII of the SEDI (Disclosures & Investors Protection) Guidelines, 2000.
Moreover, the company’s board sanctioned appointment of Shri. Amit Sarin as the company’s additional director and CEO w.e.f. July 10, 2009.
The Board also approved signed Notice of the Annual General Meeting, which will be held on August 20, 2009 and Director's Report for the year ended March 31, 2009.
Anant Raj Industries Ltd, on June 29, declared that company’s board has announced a dividend of Rs 0.60/- a share (i.e. 30% on Rs 2/- fully paid up share) subject to the approval of the company’s stockholders.
Anant Raj Industries declared that the company’s members at EGM held on June 25, 2009, have responded favorably to the plan to raise funds upto Rs 20 billion by issuing securities via private placement to QIBs or via ADRs; GDRs or FCCBs etc.
In addition, the members have granted the issuance of 2,00,00,000 fully convertible warrants to the promoter group company on a preferential basis.