Balaji Amines jumps as new hotel venture to kick off operations

Balaji Amines jumped 5.33% to Rs 34.60 at 13:11 IST on BSE after the company said that its fully-owned five-star hotel, Balaji Sarovar Premiere, will start commercial operations from 12 October 2013.

The announcement was made during trading hours today, 10 October 2013.

Meanwhile, the BSE Sensex was up 12.28 points, or 0.06%, to 20,261.54.

On BSE, 16,000 shares were traded in the counter compared with average volume of 7,246 shares in the past one quarter.

The stock hit a high of Rs 35.70 and a low of Rs 32.70 so far during the day. The stock hit a record high of Rs 66.70 on 25 October 2012. The stock hit a 52-week low of Rs 28.40 on 21 August 2013.

The stock had underperformed the market over the past one month till 9 October 2013, sliding 5.74% compared with the Sensex's 5.08% rise. The scrip had also underperformed the market in past one quarter, rising 3.96% as against Sensex's 4.17% rise.

The small-cap company has an equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines announced that the five-star hotel Balaji Sarovar Premiere, fully owned by the company, is scheduled to open on 12 October 2013. The hotel will operate commercially from immediate effect, the company said.

Net profit of Balaji Amines declined 9.18% to Rs 8.51 crore on 2.59% rise in net sales to Rs 140.10 crore in Q1 June 2013 over Q1 June 2012.

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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