Carborundum Universal gains after block deals

Carborundum Universal rose 2.96% to Rs 123.60 at 14:31 IST on BSE after two block deals aggregating 8.81 lakh shares were executed on BSE at Rs 129 per share at 13:43 IST.

One block was of size 4.5 lakh shares while the other block deal was of 4.31 lakh shares. The two block deals constitute 0.47% of Carborundum Universal's equity.

Meanwhile, the S&P BSE Sensex was up 197.16 points or 1.05% at 18,928.32.

On BSE, 8.91 lakh shares were traded in the counter as against average daily volume of 24,048 shares in the past one quarter.

The stock hit a high of Rs 129.10 and a low of Rs 119.50 so far during the day. The stock had hit a 52-week low of Rs 114 on 15 April 2013. The stock had hit a 52-week high of Rs 172.95 on 17 April 2012.

The stock had underperformed the market over the past one month till 17 April 2013, sliding 5.32% compared with the Sensex's 3.58% fall. The scrip had also underperformed the market in past one quarter, declining 18.94% as against Sensex's 6.18% fall.

The small-cap company has equity capital of Rs 18.74 crore. Face value per share is Re 1.

Carborundum Universal's consolidated net profit fell 82.9% to Rs 8.12 crore on 9.5% decline in net sales to Rs 443.78 crore in Q3 December 2012 over Q3 December 2011.

Carborundum Universal is a fully vertically integrated abrasives, electro-minerals, ceramics and refractory company with operations in Australia, Canada, China, India, Middle East, Russia, South Africa, Thailand and the US.

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