Why Anant Raj shares gained 30% in 3 days

Shares in north India-based realty major Anant Raj rallied for a third straight day on Thursday. The stock has now gained nearly 30 per cent from Monday's closing price of Rs 54.15.

Over the last month, since August 28, the stock has jumped nearly 50 per cent, outperforming the broader BSE realty index, which has gained 20 per cent over the same period.

According to market buzz, billionaire investor Rakesh Jhunjhunwala has picked up an undisclosed stake in Anant Raj Industries. The average volumes in the counter have jumped to 20 lakh over the last two days in comparison to the 10-day average of 7 lakh shares.

At 09.55 a.m., the stock traded 2 per cent higher at Rs 68.35, while the realty index gained 0.2 per cent on the BSE.