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Vakrangee gains 6% on bonus issue plan

The stock up 6% to Rs 559 on the BSE in noon deal after the company said that its board will meet on November 13, 2017 to consider issue of bonus shares

SI Reporter  |  Mumbai 

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (

moved higher by 6% to Rs 559 on the BSE in noon deal after the company said that its board will meet on November 13, 2017 to consider issue of bonus shares. The stock is trading close to its record high of Rs 566 touched on November 1, 2017 on the BSE in intra-day trade.

“A board meeting is scheduled to be held on November 13, 2017, to consider and approve un-audited financial results for the quarter and half year ended September 30, 2017 (Q2),” said in a BSE filing.

The board will also consider and approve issue of bonus shares and to fix the record date for the same, it added.

Earlier in 2012, the company had issued bonus shares in the ratio of 1:1 i.e. 1 (one) bonus equity share for every 1(one) existing equity share held by the shareholders as on the "Record date".

Since July 31, post April-June quarter (Q1FY18) results, the stock outperformed the market by gaining 26% against 4% rise in the S&P BSE Sensex.

had posted 38.5% year on year (YoY) growth in its net profit at Rs 168 crore in Q1FY18, while revenues grew 42% YoY at Rs 1,302 crore over the previous year quarter. EBITDA (earnings before interest, taxes, depreciation and amortization) margins in Q1FY18 however declined to 20.4% from 24.2% in year ago quarter.

Analyst at Karvy Stock Broking expect EBITDA margins to stabilize at 17%-18% as the commission sharing ratio with franchisees changes between 65% to 80% based on the milestone revenue targets.

At 01:47 PM; the stock was up 5% at Rs 554 on the BSE against 0.42% rise in the S&P BSE Sensex. A combined 1.21 million shares changed hands on the counter on the NSE and BSE so far.

First Published: Mon, November 06 2017. 13:50 IST
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