Archies tumbles after promoter pares stake

Archies fell 7.20% to Rs 31.60 at 12:57 IST on BSE after a promoter pared his stake in the company on Wednesday, 3 December 2014.

Meanwhile, the BSE Sensex was up 80.83 points, or 0.28%, to 28,523.54.

On BSE, so far 1.80shares were traded in the counter, compared with an average volume of 2.46 lakh shares in the past one quarter.

The stock hit a high of Rs 34.05 and a low of Rs 31.10 so far during the day. The stock hit a 52-week high of Rs 36.65 on 3 December 2014. The stock hit a 52-week low of Rs 15.45 on 3 March 2014.

The stock had outperformed the market over the past one month till 2 December 2014, rising 5.09% compared with 2.07% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 73.72% as against Sensex's 5.27% rise.

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

On Wednesday, 3 December 2014, Varun Moolchandani, part of the promoter group, sold 2.60 lakh shares, or 0.77% stake, at Rs 35.40 each on NSE.

As on 30 September 2014, Varun Moolchandani held 20.30 lakh shares, or 6.01% stake, in Archies.

Net profit of Archies rose 41.77% to Rs 1.12 crore on 0.54% rise in net sales to Rs 48.11 crore in Q2 September 2014 over Q2 September 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. The company currently operates 230+ exclusive outlets in 15 states 66 cities and nearly 300 franchise outlets across India and neighboring countries.

Powered by Capital Market - Live News