DIC India spurts after board identifies buyer for sale of land

DIC India hit 20% upper circuit at Rs 587.25 at 14:00 IST on BSE after the company said that it has identified a prospective buyer for the sale of company's land.

The announcement was made during market hours today, 13 December 2017.

Meanwhile, the S&P BSE Sensex was down 81.06 points or 0.24% at 33,146.93.

Spurt in volume was witnessed on the counter. On the BSE, 30,028 shares were traded on the counter so far as against the average daily volumes of 469 shares in the past one quarter. The stock was locked at a high of Rs 587.25 in intraday trade. The stock had hit a low of Rs 514 so far during the day. The stock had hit a 52-week high of Rs 593.25 on 13 July 2017 and a 52-week low of Rs 432.65 on 9 June 2017.

The small-cap company has equity capital of Rs 9.18 crore. Face value per share is Rs 10.

DIC India said that at the meeting of the company's board of directors held today, 13 December 2017, it has identified a prospective buyer for the sale of company's land admeasuring around 12,830 square meters located Off Saki Vihar Road at Chandivali, Mumbai.

DIC India is one of the largest companies in the Indian printing, publishing and packaging industry segment, serving top-of-the-line newspapers, magazines, packaging and printing establishments in the country.

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