Aarti Drugs hits 52-week high on buyback proposal

Aarti Drugs surged 8.93% to Rs 695 at 10:49 IST on BSE after the company scheduled a board meeting on 8 January 2018, to consider a proposal for buyback of its equity shares.

The announcement was made during market hours today, 3 January 2018.

Meanwhile, the S&P BSE Sensex was up 122.71 points or 0.36% at 33,934.97. The S&P BSE Small-Cap index advanced 1.12%, outperforming the Sensex.

On the BSE, 15,000 shares were traded on the counter so far as against average daily volumes of 1,160 shares in the past one quarter. The stock had hit a high of Rs 695 so far during the day, which is a 52-week high. The stock hit a low of Rs 655.80 so far during the day. The stock had hit a 52-week low of Rs 456.25 on 24 May 2017.

The stock had outperformed the market over the past one month till 2 January 2018, gaining 17.46% compared with the Sensex's 2.98% rise. The stock had also outperformed the market over the past one quarter, advancing 22.22% as against the Sensex's 8.08% rise. The scrip had, however, underperformed the market over the past one year, advancing 4.37% as against the Sensex's 27.14% rise.

The small-cap company has equity capital of Rs 23.86 crore. Face value per share is Rs 10.

On a consolidated basis, Aarti Drugs' net profit rose 6.9% to Rs 23.60 crore on 1.3% growth in net sales to Rs 319.27 crore in Q2 September 2017 over Q2 September 2016.

Aarti Drugs is a pharmaceutical company. The company makes active pharmaceuticals ingredients, pharma intermediates and specialty chemicals.

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