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Stock Report
Arihant Foundations to enter into JV with JP Morgan Property Fund for Chennai projects
Posted On : 2007-05-09 05:03:49( TIMEZONE : IST )
Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on May 09, 2007 has authorized the entry in to a Joint Venture (50:50 equity participation) with J P Morgan Property Fund through a Joint Venture Company incorporated in Chennai, to undertake the development of residential project of 45 acres in Chennai. The estimated value of the project is approximately Rs 400 Crores.
The stock closed the day at Rs.330, up by Rs.0.05 or 0.02%. The stock hit an intraday high of Rs.334.95 and low of Rs.325. The total traded quantity was 7063 compared to 2 week average of 8487.
