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Bombay Burmah advances after block deals

Capital Market 

Corporation was up 1.78% to Rs 943.95 at 9:49 on after the stock witnessed multiple block deals among the company's promoters on the yesterday, 14 June 2017.

Meanwhile, the S&P Sensex was up 5.42 points or 0.02% at 31,161.33. The S&P BSE Mid-Cap index rose 24.96 points or 0.17% at 14,824.37.

On the BSE, 49,000 shares were traded on the counter so far as against the average daily volumes of 1.73 lakh shares in the past two weeks. The stock had hit a high of Rs 962 and a low of Rs 939.80 so far during the day. The stock had hit a record high of Rs 964.80 yesterday, 14 June 2017 and a 52-week low of Rs 377 on 24 June 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 5.2% compared with the Sensex's 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 22.22% as against the Sensex's 5.82% rise. The scrip had also outperformed the market over the past one year, surging 129.08% as against the Sensex's 18.03% rise.

The mid-cap company has equity capital of Rs 13.95 crore. Face value per share is Rs 2.

Promoter Archway Investment Company offloaded a combined 11.80 lakh shares of Corporation (BBTC) at Rs 877 per share in a series of block deals on the BSE yesterday, 14 June 2017.

Promoter Nusli Neville Wadia bought 7.05 lakh shares. Promoter Nowrosjee Wadia and Sons purchased 3.43 lakh shares. Estate of Shri Edulji Framrize Dinshaw bought 1.32 lakh shares.

Archway Investment Company controlled 12.5% stake, Nusli Neville Wadia held 8.8% and Nowrosjee Wadia and Sons owned 3.29% stake end March 2017.

Corporation reported net profit of Rs 5.05 crore in Q4 March 2017 compared with net loss of Rs 16.25 crore in Q4 March 2016. Net sales rose 12% to Rs 61.11 crore in Q4 March 2017 over Q4 March 2016.

Bombay Burmah Trading Corporation has diversified its interests into tea, coffee, other plantation products, biscuit and dairy products, auto electric and white goods parts, weighing products, horticulture and landscaping services, healthcare products (viz.) dental, orthopaedic and opthalmic products.

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

First Published: Thu, June 15 2017. 09:50 IST