Mayur Uniquoters jumps on buyback plan

Mayur Uniquoters has surged around 6% to Rs 433 on the BSE after the company said that its board will consider share buyback on 10 August 2016.

On BSE, so far 8,212 shares were traded in the counter, compared with an average daily volume of 4,648 shares in the past one quarter. The stock hit a high of Rs 438.50 and a low of Rs 416 so far during the day. The stock hit a 52-week high of Rs 479.90 on 2 February 2016.

The stock hit a 52-week low of Rs 384.10 on 31 March 2016. The stock had outperformed the market over the past one month till 4 August 2016, falling 3.34% compared with 1.60% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.85% as against Sensex's 10.41% rise.

The small-cap company has equity capital of Rs 23.14 crore. Face value per share is Rs 5.

Net profit of Mayur Uniquoters rose 28.4% to Rs 23.46 crore on 7% rise in net sales to Rs 125.41 crore in Q4 March 2016 over Q4 March 2015. The company will declare Q1 results on 10 August 2016.

Mayur Uniquoters is the largest manufacturer of artificial leather/PVC vinyl, using the release paper transfer coating technology in India.