Aarti Industries scales record high on mutual fund buying

Aarti Industries surged 3.79% to Rs 242.55 at 09:46 IST on BSE after a mutual fund acquired 0.5% stake in the company on Monday, 7 July 2014.

Meanwhile, the S&P BSE Sensex was down 30.63 points or 0.12% at 26,069.45

On BSE, so far 24,368 shares were traded in the counter as against average daily volume of 33,361 shares in the past one quarter.

The stock hit a record high of Rs 244.30 in intraday trade today, 8 July 2014. The stock hit a low of Rs 237.40 so far during the day. The stock had hit a 52-week low of Rs 62 on 28 August 2013.

The stock had outperformed the market over the past one month till 7 July 2014, gaining 27.67% compared with the Sensex's 2.77% rise. The scrip had also outperformed the market in past one quarter, jumping 92.03% as against Sensex's 16.81% rise.

The small-cap company has equity capital of Rs 44.30 crore. Face value per share is Rs 5.

Franklin Templeton Mutual Fund A/C Franklin India Prima Plus bought 4.44 lakh shares of Aarti Industries at an average price of Rs 231.72 per share in a bulk deal on NSE on Monday, 7 July 2014. Jaya Chandrakant Gogri sold 5 lakh shares of Aarti Industries at an average price of Rs 231.44 per share in a bulk deal on NSE on Monday, 7 July 2014.

Jaya Chandrakant Gogri held 2.82% stake in Aarti Industries (as per the shareholding pattern as on 31 March 2014).

Aarti Industries' net profit rose 21.5% to Rs 46.84 crore on 25.9% growth in net sales to Rs 735.46 crore in Q4 March 2014 over Q4 March 2013.

Aarti Industries is one of the leading suppliers to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals.

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