Blue Star Info zooms 12% on jump in volumes

The stock finally ended at Rs 72.85, up over 12%. The counter witnessed comparatively heavy trading volumes of 46,372 shares, as against the two-week daily traded average of 3,494.
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(Updated at 1107 hrs)

Blue Star Infotech has zoomed following 34.5% surge in Q4 net and a attractive payout.

The stock opened up Rs 5 at Rs 70. It slipped to a low of Rs 68 as the market went negative. But the stock soon touched a high of Rs 75.50, up 16%.

The stock is currently trading 10% higher at Rs 71.25. The counter has witnessed relatively heavy trades of around 15,161 shares as compared to the two-week daily traded average of 3,494 shares.

According to a release issued by the company to the BSE yesterday, the consolidated net profit surged 34.5% to Rs 2.65 crore in the quarter ended March 31, 2009 from Rs 1.97 crore in the corresponding quarter a year ago. The total income of the company, however, slipped 14% to Rs 36.71 crore in Q4FY09 from Rs 42.61 crore in Q4FY08.

Furher, the board has recommended a handsome dividend of Rs 5 per share.