Aries Agro jumps on bargain hunting

Aries Agro rose 4.87% to Rs 89.45 at 13:40 IST on BSE on bargain hunting after the stock tumbled 15.42% in the preceding three sessions to Rs 85.30 on 25 September 2014, from a recent high of Rs 100.85 on 22 September 2014.

Meanwhile, the BSE Sensex was down 30.71 points, or 0.12%, to 26,437.65.

On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 44,760 shares in the past one quarter.

The stock hit a high of Rs 90.50 and a low of Rs 84.35 so far during the day. The stock hit a 52-week high of Rs 113.75 on 11 September 2014. The stock hit a 52-week low of Rs 34.50 on 12 November 2013.

The stock had underperformed the market over the past one month till 25 September 2014, falling 8.57% compared with 0.12% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.65% as against Sensex's 4.56% rise.

The small-cap company has an equity capital of Rs 13 crore. Face value per share is Rs 10.

On a consolidated basis, Aries Agro's net profit declined 46.2% to Rs 2.77 crore on 7.2% growth in net sales to Rs 51.25 crore in Q1 June 2014 over Q1 June 2013.

Aries Agro is in the business of manufacturing of micronutrients and other customized nutritional products for plants and animals.

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