Bombay Dyeing gains on bargain hunting

Bombay Dyeing & Manufacturing Company was locked in 5% upper circuit at Rs 207.20 at 15:29 IST on BSE, with the stock reversing recent fall on bargain hunting.

Meanwhile, the S&P BSE Sensex was down 24.81 points, or 0.08% to 32584.35. The S&P BSE Mid-Cap index was up 1.48 points, or 0.01% to 16,115.98.

On the BSE, 8.37 lakh shares were traded in the counter so far, compared with average daily volumes of 11.91 lakh shares in the past one quarter. The stock had hit a high of Rs 207.20 and a low of Rs 198.50 so far during the day. The stock hit a record high of Rs 245.70 on 11 October 2017. 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 17 October 2017, rising 7.2% compared with 1.04% gains in the Sensex. The scrip had also outperformed the market in past one quarter, surging 123.63% as against Sensex's 1.67% rise. The scrip had also outperformed the market in past one year, jumping 218.31% as against Sensex's 18.45% rise.

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

Shares of Bombay Dyeing & Manufacturing Company had dropped 16.64% in five trading sessions to settle at Rs 197.35 yesterday, 17 October 2017, from its close of Rs 236.75 on 10 October 2017.

Bombay Dyeing & Manufacturing Company's net loss of Rs 32.71 crore in Q1 June 2017, lower than 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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