Archies jumps after revamping e-commerce portal

Archies rose 14.42% to Rs 30.55 at 14:56 IST on BSE after the company said it revamped its e-commerce platform to attract more customers.

The announcement was made during trading hours today, 15 September 2014.

Meanwhile, the BSE Sensex was down 183.15 points, or 0.68%, to 26,877.89.

On BSE, so far 9.63 lakh shares were traded in the counter, compared with an average volume of 80,636 shares in the past one quarter.

The stock hit a high of Rs 31 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 26.25 so far during the day. The stock hit a 52-week low of Rs 13.15 on 24 September 2013.

The stock had outperformed the market over the past one month till 12 September 2014, rising 38.70% compared with 4.56% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.46% as against Sensex's 5.81% rise.

The small-cap company has an equity capital of Rs 6.76 crore. Face value per share is Rs 2.

Archies announced that it has revamped its e-commerce platform, "archiesonline.com", recently, making it more user friendly and in line with the existing Indian ecommerce websites to attract customers. Archies said it has appointed Deepak Thakkar as Non Executive Director, who is an expert in the IT and E-commerce. Apart from this Archies has also tied up with various e-retailers who have vast presence in the virtual space like Flipkart, Snapdeal, E-India Store, Groupon India, Saffron Art, Gift A love.com, Phoolwala.com, My flower tree, Shopclues, Indian Gifts Portal, Fern N Petals & Bookaflower.com.

In July 2014 Archies received 2531 orders against 960 orders last year. Similarly in August 2014, Archies received 5281 orders against 3058 orders last year. The company is expecting its e-commerce platform to be growth engine for the company in the times to come.

In addition to the rejuvenated www.archielsonline.com (website), Archies as on date is having 243 company owned retail stores PAN India including 19 Hallmark stores.

Archies reported net loss of Rs 0.84 crore in Q1 June 2014 as against net profit of Rs 0.05 crore in Q1 June 2013. Net sales declined 2.67% to Rs 38.21 crore in Q1 June 2014 over Q1 June 2013.

Archies operates a chain of stores that sell greeting cards and gifts. The company retails photo albums, baby books, jewelry and accessories, gift hampers, perfume, stuffed toys, and other gifts.

Powered by Capital Market - Live News