Donear Industries spurts 60.53% in four days

Donear Industries was locked in 20% upper circuit at Rs 24 at 15:05 IST on BSE, with the stock extending its recent rally.

Meanwhile, the S&P BSE Sensex was down 205.55 points or 0.81% at 25,324.56

On BSE, so far 11.30 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 24 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 21 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 7 December 2015, rising 63.13% compared with 2.80% decline in the Sensex. The scrip also outperformed the market in past one quarter, surging 45.45% as against Sensex's 2.56% rise.

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

Shares of Donear Industries are on a roll recently, surging 60.53% in four trading days 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 yesterday, 7 December 2015. The stock rose by its maximum permissible daily limit of 20% to settle at Rs 20 yesterday, 7 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 well-known brands in India in its product category of suitings, trouser & shirting fabrics.

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