Carborundum Universal gains after bulk deal

Carborundum Universal rose 3.52% to Rs 249.90 at 14:41 IST on BSE after a bulk deal of 9.25 lakh shares was executed on the scrip at Rs 255 per share at 13:44 IST on BSE.

Meanwhile, the BSE Sensex was up 149.31 points, or 0.55%, to 27,294.22

Bulk deal boosted volume on the scrip. On BSE, so far 10.08 lakh shares were traded in the counter, compared with average daily volume of 15,592 shares in the past one quarter. The stock hit a high of Rs 259.95 so far during the day which is a record high for stock. The stock hit a low of Rs 241.50 so far during the day. The stock hit a 52-week low of Rs 154 on 1 October 2015. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 7.82% compared with 1.12% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 40.76% as against Sensex's 7.42% rise.

The mid-cap company has an equity capital of Rs 18.84 crore. Face value per share is Re 1.

On a consolidated basis, Carborundum Universal's net profit declined 39.84% to Rs 39.74 crore on 13.59% rise in net sales to Rs 528.38 crore in Q4 March 2016 over Q4 March 2015.

Carborundum Universal manufactures and sells abrasives, ceramics (industrial ceramics and refractories) and electrominerals.

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