Bombay Dyeing extends recent rally

Bombay Dyeing & Manufacturing Company rose 3.72% to Rs 159.10 at 11:36 IST on BSE after the company said its sold 48.457 acres of freehold land in Pune, Maharashtra for Rs 13.57 crore.

The announcement was made after market hours yesterday, 7 September 2017.

Meanwhile, the S&P BSE Sensex was up 28.51 points, or 0.09% to 31,691.25.

On the BSE, 18.15 lakh shares were traded in the counter so far, compared with average daily volumes of 9.92 lakh shares in the past one quarter. The stock had hit a high of Rs 161.05 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 154.35 so far during the day. The stock hit a 52-week low of Rs 41.20 on 22 November 2016.

The stock had outperformed the market over the past one month till 7 September 2017, rising 96.04% compared with 0.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 84.04% as against Sensex's 1.28% rise. The scrip had also outperformed the market in past one year, rising 207.11% as against Sensex's 9.01% rise.

The small-cap company has equity capital of Rs 41.31 crore. Face value per share is Rs 2.

Shares of Bombay Dyeing & Manufacturing Company spurted 115.73% in 12 trading sessions to its current market price of Rs 159.10, from a close of Rs 73.75 on 22 August 2017.

Bombay Dyeing & Manufacturing Company's net loss of Rs 32.71 crore in Q1 June 2017, compared with net loss of Rs 43.58 crore in Q1 June 2016. Net sales rose 31% to Rs 592.43 crore in Q1 June 2017 over Q1 June 2016.

Bombay Dyeing & Manufacturing Company is engaged in textile, polyester and real estate business segments.

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