Balaji Telefilms in spotlight as board approves allotment of shares

Balaji Telefilms surged 4.79% to Rs 162 at 13:54 IST on BSE after the company's board approved allotment of 2.52 crore equity shares at Rs 164 to Reliance Industries on a preferential basis.

The announcement was made after market hours yesterday, 22 August 2017.

Meanwhile, the S&P BSE Sensex was up 131.26 points or 0.42% at 31,423.11. The S&P BSE Small-Cap index rose 121.93 points or 0.79% at 15,510.55

On the BSE, 1.17 lakh shares were traded on the counter so far as against the average daily volumes of 2.13 lakh shares in the past one quarter. The stock had hit a high of Rs 163.35 and hit a low of Rs 157.15 so far during the day. The stock had hit a 52-week high of Rs 203 on 21 July 2017. The stock had hit a 52-week low of Rs 73.85 on 22 November 2016.

The stock had underperformed the market over the past one month till 22 August 2017, falling 14.25% compared with 2.3% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 42.75% as against Sensex's 2.36% rise. The scrip had also outperformed the market in past one year, surging 72.35% as against Sensex's 11.81% rise.

The small-cap company has equity capital of Rs 15.19 crore. Face value per share is Rs 2.

Balaji Telefilms' board at its meeting held yesterday, 22 August 2017 approved allotment of 2.52 crore equity shares at Rs 164 for a total consideration of Rs 413.28 crore to Reliance Industries on a preferential basis through a private placement.

Balaji Telefilms' net profit rose 54.84% to Rs 8.95 crore on 79.11% rise in net sales to Rs 94.32 crore Q1 June 2017 over Q1 June 2016.

Balaji Telefilms is engaged in the production of television content. The company operates through two segments: commissioned programmes and feature films.

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