Donear Inds extends bull-run to hit 52-week high

Donear Industries spurted 12.18% to Rs 87.50 at 13:45 IST on BSE, with the stock extending its recent bull-run on the bourses.

Meanwhile, the S&P BSE Sensex was down 74.20 points or 0.22% at 33,605.04.

On the BSE, 5.41 lakh shares were traded on the counter so far as against the average daily volumes of 42,198 shares in the past one quarter. The stock had hit a high of Rs 89.65 so far during the day, which is a 52-week high. The stock hit a low of Rs 79.40 so far during the day. The stock had hit a 52-week low of Rs 51.10 on 27 December 2016.

Shares of Donear Industries have rallied 42.85% in six trading sessions to its ruling market price, from its closing of Rs 61.25 on 17 November 2017.

In a clarification to the stock exchanges on 21 November 2017 with regard to media news item titled "Donear promoters buy OCM Mills", the company stated that it has not acquired OCM Woolen Mills, and thus OCM Woolen Mills does not become a part of the Donear Group. The promoters of Donear Industries, through a limited liability partnership have made the acquisition of OCM Woolen Mills. Donear Industries is not under an obligation to disclose the acquisition of OCM Woolen Mills by the promoters and this is the reason no information with respect to the acquisition has been provided to the exchanges by Donear Industries, it added.

Donear Industries' net profit fell 67.1% to Rs 0.47 crore on 6.1% decline in net sales to Rs 116.98 crore in Q1 June 2017 over Q1 June 2016.

Donear Industries has presence in the textile industry and is reputed and fastest growing fashion fabric brand creating a wide variety of exotic; suitings, trouser & shirting fabrics.

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