D-Link (India) jumps after board approves to make set top boxes

D-Link (India) rose 3.27% to Rs 135.80 at 13:18 IST on BSE after the company said that its board approved to manufacture and sell set-top boxes and allied products in India.

The announcement was made before trading hours today, 5 February 2016.

Meanwhile, the BSE Sensex was up 146.36 points, or 0.60%, to 24,484.79.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 16,676 shares in the past one quarter. The stock hit a high of Rs 140.20 and a low of Rs 134.10 so far during the day. The stock hit a record high of Rs 251.40 on 7 July 2015. The stock hit a 52-week low of Rs 113 on 20 January 2016. The stock had underperformed the market over the past one month till 4 February 2016, sliding 24.43% compared with 5.01% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 22.78% as against Sensex's 8.34% fall.

The small-cap company has an equity capital of Rs 7.10 crore. Face value per share is Rs 2.

D-Link (India)'s net profit rose 32.6% to Rs 6.95 crore on 5.9% increase in net sales to Rs 169.95 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

D-Link is engaged in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions.

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