Arihant Foundations soars on getting nod to incorporate wholly owned subsidiary

Arihant Foundations & Housing is currently trading at Rs. 56.70, up by 2.69 points or 4.98% from its previous closing of Rs. 54.01 on the BSE.

The scrip opened at Rs. 55.24 and has touched a high and low of Rs. 56.71 and Rs. 55.24 respectively. So far 1561 shares were traded on the counter.

The BSE group ‘XT’ stock of face value Rs. 10 has touched a 52 week high of Rs. 91.59 on 04-Jul-2023 and a 52 week low of Rs. 29.90 on 28-Jul-2022.

Last one week high and low of the scrip stood at Rs. 58.54 and Rs. 52.93 respectively. The current market cap of the company is Rs. 48.76 crore.

The promoters holding in the company stood at 42.87%, while Non-Institutions held 57.13% stake in the company.

Arihant Foundations & Housing has received approval from Ministry of Corporate Affairs for incorporation of Wholly Owned Subsidiary of the company in the name of ‘Vihaana Realty’ on July 21, 2023. Arihant Foundations & Housing is the promoter of Vihaana Realty, a Wholly Owned Subsidiary. Accordingly, Vihaana Realty is termed as related party.

Arihant caters to building segments such as villas, apartments, IT parks, hotels, shopping malls, multiplexes, developed plots and commercial buildings. It has a great ability to serve a diverse range of clients from individual home buyers to commercial clients to multi-unit investors.

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