Bhansali Engg scales record high after strong Q2 result

Bhansali Engineering Polymers gained 2.48% to Rs 115.75 at 11:55 IST on BSE after net profit spurted 185.88% to Rs 25.10 crore on 51.84% increase in total income to Rs 249.99 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours on Friday, 13 October 2017.

Meanwhile, the S&P BSE Sensex was up 125.02 points, or 0.39% at 32,557.71. The S&P BSE Small-Cap index was up 31.61 points, or 0.19% at 16,957.27.

On the BSE, 7.64 lakh shares were traded on the counter so far as against the average daily volumes of 7.81 lakh shares in the past one quarter. The stock had hit a high of Rs 120.90 so far during the day, which is also its record high. The stock hit a low of Rs 113.60 so far during the day. The stock had hit a 52-week low of Rs 20.85 on 9 November 2016.

The stock had outperformed the market over the past one month till 13 October 2017, rising 27.41% compared with the Sensex's 0.77% gains. The stock had also outperformed the market over the past one quarter, advancing 52.33% as against the Sensex's 1.23% rise. The scrip had also outperformed the market over the past one year, surging 355.44% as against the Sensex's 17.33% rise.

The small-cap company has equity capital of Rs 16.59 crore. Face value per share is Re 1.

Bhansali Engineering Polymers is a vertically integrated petrochemical company that manufactures acrylonitrile butadiene styrene (ABS) which acts as a raw material for leading companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other applications.

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