Amrit Corp hits record high after strong Q4 results

Amrit Corp was locked at 20% upper circuit at Rs 738 at 13:18 IST on BSE after net profit spurted 198.4% to Rs 3.73 crore on 23.9% increase in net sales to Rs 12.07 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 162.45 points, or 0.54% at 30,484.57. The S&P BSE Small-cap index was up 63.77 points, 0.41% at 15,714.14.

High volumes were witnessed on the counter. On the BSE, 3,729 shares were traded on the counter so far as against the average daily volumes of 511 shares in the past one quarter. The stock had hit a high of Rs 738 so far during the day, which is also its record high. The stock hit a low of Rs 680 so far during the day.

The stock had hit a 52-week low of Rs 306 on 24 May 2016. The stock had outperformed the market over the past one month till 15 May 2017, advancing 31.16% compared with the Sensex's 2.92% rise. The scrip had also outperformed the market over the past one quarter advancing 40.73% as against the Sensex's 7.69% rise.

The small-cap company has equity capital of Rs 3.21 crore. Face value per share is Rs 10.

Amrit Corp is the flagship holding company of the Amrit Group. The company operates in various segments viz. dairy milk & milk products, real estate and services & commodities trading.

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