Deep Industries gains after allotting warrants to promoters

Deep Industries rose 1.87% to Rs 46.25 at 14:33 IST on BSE after the company said it allotted 29.50 lakh convertible warrants of Rs 34 each on a preferential basis to five promoter group entities.

The company made the announcement during trading hours today, 31 December 2013.

Meanwhile, the BSE Sensex was up 14.74 points, or 0.07%, to 21,157.75.

On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 55,298 shares in the past one quarter.

The stock hit a high of Rs 47.45 and a low of Rs 45.70 so far during the day. The stock hit a 52-week high of Rs 54.45 on 7 January 2013. The stock hit a 52-week low of Rs 21.90 on 7 August 2013.

The stock had outperformed the market over the past one month till 30 December 2013, rising 25.41% compared with the Sensex's 1.69% rise. The scrip had also outperformed the market in past one quarter, rising 55.48% as against Sensex's 9.10% rise.

The small-cap company has an equity capital of Rs 26.25 crore. Face value per share is Rs 10.

Deep Industries' net profit surged 99.6% to Rs 5.47 crore on 70.5% increase in net sales to Rs 23.41 crore in Q2 September 2013 over Q2 September 2012.

Deep Industries is a diversified oil & gas company with business interest in air and gas compression, drilling and work over operations. The company is also into oil & gas exploration and production.

Powered by Capital Market - Live News