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Borosil Glass Works soars about 15% in two sessions

Capital Market 

Works rose 4% to Rs 8,450 at 14:42 on BSE, extending yesterday's 10.07% rise triggered by the company's turnaround Q4

Meanwhile, the S&P Sensex was up 268.38 points, or 0.89% to 30,590.50.

On the BSE, 11,000 shares were traded in the counter so far, compared with average daily volumes of 4,407 shares in the past one quarter. The stock had hit a high of Rs 8,550 and a low of Rs 8,218 so far during the day. The stock hit a record high of Rs 8,702.60 on 24 October 2016. The stock hit a 52-week low of Rs 3,600 on 24 June 2016.

The stock had outperformed the market over the past one month till 15 May 2017, rising 24.04% compared with 2.92% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.40% as against Sensex's 7% rise.

The small-cap company has equity capital of Rs 2.31 crore. Face value per share is Rs 10.

Works reported net profit of Rs 8.92 crore in Q4 March 2017, as against net loss of Rs 6.51 crore in Q4 March 2016. Net sales rose 17.6% to Rs 75.27 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Shares of Works spurted 10.07% to settle at Rs 8,124.90 yesterday, 15 May 2017. The stock has risen 14.47% in two trading sessions from its close of Rs 7,381.70 on Friday, 12 May 2017.

Borosil Glass Works' board recommended dividend of Rs 25 per share for the financial year ended March 2017. The board also approved 10-for-1 stock split.

Borosil Glass Works manufactures scientific ware items and consumer ware items.

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

First Published: Tue, May 16 2017. 14:44 IST