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Amrit Corp vaults 36.3% in two sessions on earnings boost

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Amrit Corp surged 13.55% to Rs 838 at 11:46 on BSE, with the stock extending Tuesday's sharp rally triggered by the company reporting strong Q4 March 2017 earnings.

Meanwhile, the S&P Sensex was down 12.78 points or 0.04% at 30,569.82. The S&P Small-Cap index was down 12.76 points or 0.08% at 15,696.83.

On the BSE, 2,574 shares were traded on the counter so far as against the average daily volumes of 580 shares in the past one quarter. The stock had hit a high of Rs 862 so far during the day, which is a record high. The stock hit a low of Rs 768 so far during the day.

The stock had hit a 52-week low of Rs 306 on 24 May 2016. It had outperformed the market over the past one month till 16 May 2017, surging 57.39% compared with the Sensex's 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 70.32% as against the Sensex's 8.06% rise.

The small-cap company has equity capital of Rs 3.21 crore. Face value per share is Rs 10.

Shares of Amrit Corp have rallied 36.3% two trading sessions from its closing of Rs 615 on 15 May 2017, after the company reported strong Q4 March 2017 earnings after market hours on Monday, 15 May 2017. The stock spurted by the maximum permissible level of 20% to settle at Rs 738 yesterday, 16 May 2017.

Amrit Corp's net profit spurted 198.4% to Rs 3.73 crore on 23.9% increase in net sales to Rs 12.07 crore in Q4 March 2017 over Q4 March 2016.

Amrit Corp is the flagship holding company of the Amrit Group. The company operates in various segments viz. dairy milk & milk products, real estate and services & commodities trading.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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