Sical Logistics rose 5.3% to Rs 213.45 at 9:34 IST on BSE after the company's board approved a proposal to initiate the buying of 26% stake held by MMTC in the company's subsidiary Sical Iron Ore Terminals.The announcement was made after market hours yesterday, 10 October 2017.
On the BSE, 1,111 shares were traded on the counter so far as against the average daily volumes of 4,278 shares in the past one quarter. The stock had hit a high of Rs 213.45 and a low of Rs 208.20 so far during the day. The stock had hit a 52-week high of Rs 285 on 11 May 2017 and a 52-week low of Rs 162.15 on 21 November 2016.
The stock had underperformed the market over the past one month till 10 October 2017, sliding 11.83% compared with the Sensex's 0.75% rise. The stock had also underperformed the market over the past one quarter, declining 19.79% as against the Sensex's 0.66% rise. The scrip had also underperformed the market over the past one year, gaining 12.96% as against the Sensex's 13.68% rise.
The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.
Sical Logistics' board at a meeting held yesterday, 10 October 2017, in-principle approved the proposal to initiate the buying of 26% stake held by MMTC in the company's subsidiary Sical Iron Ore Terminals subject to all statutory and regulatory approvals.
On a consolidated basis, net profit of Sical Logistics rose 75.9% to Rs 11.80 crore on 14.4% growth in net sales to Rs 244.76 crore in Q1 June 2017 over Q1 June 2016.
Sical Logistics is primarily engaged in providing integrated logistics services.
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