Beardsell extends recent sharp rally

Beardsell was locked at 5% upper circuit at Rs 561.75 at 10:19 IST on BSE, with the stock extending recent sharp rally.

Meanwhile, the S&P BSE Sensex was up 98.38 points or 0.34% at 29,266.06. The BSE Small-cap index was up 117.60 points or 0.85% at 14,019.52.

On the BSE, 1,989 shares were traded on the counter so far as against the average daily volumes of 2,997 shares in the past two weeks. The stock hit a high of Rs 561.75 and a low of Rs 545.10 so far during the day.

The stock had hit a record high of Rs 622 on 4 November 2016 and a 52-week low of Rs 102.90 on 9 June 2016.

Shares of Beardsell have rallied 47.23% in ten trading sessions from its closing of Rs 381.55 on 8 March 2017.

Beardsell had recently announced that its board at its meeting held on 15 March 2017, approved 5-for-1 stock split.

Beardsell's net profit spurted 256.5% to Rs 1.64 crore on 7.6% fall in net sales to Rs 38.24 crore in Q3 December 2016 over Q3 December 2015.

Beardsell is engaged in the manufacturing, selling and contracting activities in expanded polystyrene, insulation and packaging material, prefabricated panels and solar shield, quikbuild construction panels, marketing of textiles, electric motors, exports and technical consultancy services.

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