Bhansali Engineering advances after expansion plans

Bhansali Engineering Polymers gained 3.55% to Rs 70.05 at 11:32 IST on BSE after the company scheduled a board meeting on 14 July 2017 to consider capacity expansion.

The announcement was made after market hours yesterday, 4 July 2017.

Meanwhile, the S&P BSE Sensex was up 23.49 points, or 0.08% to 31,233.28. The S&P BSE Smjall-Cap index was up 131.84 points, or 0.85% to 15,698.77.

On BSE, 7.80 lakh shares were traded in the counter so far as against an average daily volume of 11.23 lakh shares in the past one quarter. The stock hit a high of Rs 70.55 and a low of Rs 68.05 so far during the day. The stock hit a record high of Rs 70.85 yesterday, 4 July 2017. The stock hit a 52-week low of Rs 18.95 on 29 September 2016.

The stock had outperformed the market over the past one month till 4 July 2017, rising 65% compared with 0.32% decline in the Sensex. The scrip had also outperformed the market in past one quarter, surging 90.3% as against Sensex's 4.12% rise. The scrip had outperformed the market in past one year, jumping 231.62% as against Sensex's 14.88% rise.

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

Bhansali Engineering Polymers scheduled a board meeting on 14 July 2017 to consider expansion project of company for increasing ABS production capacity from existing 80 kilo tonnes per annum (KTPA) to 137 KTPA inter alia other businesses.

Bhansali Engineering Polymers net profit surged 1908% to Rs 15.06 crore on 23.56% rise in net sales to Rs 192.73 crore in Q4 March 2017 over Q4 March 2016.

Bhansali Engineering Polymers is a vertically integrated petrochemical company that manufactures 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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