Donear Industries drops on profit booking

Donear Industries lost 3.54% to Rs 23.15 at 10:32 IST on BSE, with the stock sliding on profit booking after a recent steep rally.

Meanwhile, the S&P BSE Sensex was down 110.28 points or 0.44% at 25,200.05

On BSE, so far 9.73 lakh shares were traded in the counter as against average daily volume of 86,738 shares in the past one quarter.

The stock hit a high of Rs 25.50 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 22.29 so far during the day. The stock had hit a 52-week low of Rs 9.28 on 16 June 2015.

The stock had outperformed the market over the past one month till 8 December 2015, surging 95.76% compared with 3.64% decline in the Sensex. The scrip also outperformed the market in past one quarter, advancing 71.43% as against Sensex's 0.03% fall.

The small-cap company has equity capital of Rs 10.40 crore. Face value per share is Rs 2.

Shares of Donear Industries were on a roll recently, surging 60.53% in four trading days to Rs 24 yesterday, 8 December 2015 from a recent low of Rs 14.95 on 2 December 2015. Merrill Lynch Capital Markets Espana sold 5.51 lakh shares at an average price of Rs 19.99 per share of Donear Industries in a bulk deal on BSE on 7 December 2015. The stock rose by its maximum permissible daily limit of 20% to settle at Rs 20 on 7 December 2015. The stock also rose by its maximum permissible daily limit of 20% to settle at Rs 24 yesterday, 8 December 2015.

Donear Industries' net profit jumped 96.3% to Rs 2.10 crore on 3% rise in total income to Rs 128.71 crore in Q2 September 2015 over Q2 September 2014.

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. The company primarily caters to the middle and the premium segments with high quality apparel fabrics that are woven with natural fibres, synthetic fibres and its various blends.

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