Balmer Lawrie & Company gained 4.91% to Rs 826.60 at 11:00 IST on BSE after the company said its board of directors at a meeting held yesterday, 10 November 2016, recommended 3:1 bonus issue.
The announcement was made after market hours yesterday, 10 November 2016.Meanwhile, the BSE Sensex was down 390.92 points, or 1.48%, to 27,109.43.
High volumes were witnessed on the counter. On BSE, so far 32,897 shares were traded in the counter compared with average volume of 7,197 shares in the past one quarter. The stock hit a high of Rs 887.91 so far during the day, which is a record high for the counter. The stock hit a low of Rs 820 so far during the day. The stock hit a 52-week low of Rs 491 on 29 February 2016. The stock outperformed the market over the past one month till 10 November 2016, advancing 13.45% compared with 2.01% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 20.65% as against Sensex's 0.93% fall.
The mid-cap company has an equity capital of Rs 28.50 crore. Face value per share is Rs 10.
Balmer Lawrie & Company's net profit rose 5.57% to Rs 27.63 crore on 6.54% rise in net total income from operations to Rs 427.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.
Balmer Lawrie & Company has eight strategic business units - industrial packaging, greases & lubricants, performance chemicals, tours & travel, logistics infrastructure, logistics services, tea and refinery & oilfield services, with offices spread across the country and abroad. Over the years, the company has also grown inorganically through various joint ventures.
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