Balaji Telefilms jumps after board's nod for preferential issue to RIL

Balaji Telefilms surged 4.15% to Rs 194.40 at 9:50 IST on BSE after the company said its board approved preferential issue of 2.52 crore shares of the company at Rs 164 per share, aggregating Rs 413.28 crore to Reliance Industries.

The announcement was made after market hours yesterday, 20 July 2017.

Meanwhile, the S&P BSE Sensex was up 119.98 points or 0.38% at 32,024.38. The S&P BSE Small-Cap index rose 54.65 points or 0.34% at 16,054.53.

On the BSE, 6.54 lakh shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past one quarter. The stock had hit a high of Rs 203 so far during the day, which is a 52-week high. The stock hit a low of Rs 191 so far during the day. The stock had hit a 52-week low of Rs 73.85 on 22 November 2016.

The stock had outperformed the market over the past one month till 20 July 2017, advancing 30.48% compared with the Sensex's 1.94% rise. The stock had also outperformed the market over the past one quarter, gaining 84.8% as against the Sensex's 8.44% rise. The scrip had also outperformed the market over the past one year, surging 98.88% as against the Sensex's 14.29% rise.

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

Balaji Telefilms reported consolidated net profit of Rs 0.31 crore in Q4 March 2017, compared with net loss of Rs 16.01 crore in Q4 March 2016. Net sales rose 13.6% to Rs 94.52 crore in Q4 March 2017 over Q4 March 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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