Dwarikesh Sugar gets sweeter after board approves stock split

Dwarikesh Sugar Industries gained 2.74% to Rs 453.40 at 14:10 IST on BSE after the company's board of directors today, 2 June 2017, approved 10 for 1 stock split.

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 140.16 points or 0.45% to 31,262.38. The S&P BSE Small-Cap index was up 83.16 points or 0.55% to 15,317.40.

On the BSE, 76,602 shares were traded in the counter so far as against average daily volume of 61,103 shares in the past one quarter. The stock had hit high of Rs 465.90 and low of Rs 444.60 so far during the trading session. The stock had hit a record high of Rs 503.50 on 21 April 2017. The stock had hit 52-week low of Rs 191.60 on 1 June 2016.

The stock has gained 6.82% in three sessions to its ruling price of Rs 453.40, from a close of Rs 424.45 on 30 May 2017.

The stock fell 5.78% over the past one month till 1 June 2017, underperforming the Sensex's 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 9.95% as against Sensex's 7.43% rise. The scrip had also outperformed the market in past one year, jumping 120.26% as against Sensex's 16.56% rise.

The small-cap company has equity capital of Rs 18.83 crore. Face value per share is Rs 10.

Dwarikesh Sugar Industries' net profit fell 11.4% to Rs 46.82 crore on 91.2% rise in net sales to Rs 440.37 crore in Q4 March 2017 over Q4 March 2016.

Dwarikesh Sugar Industries is an integrated conglomerate primarily engaged in manufacture of sugar and allied products. From a humble beginning in 1993, Dwarikesh now has a strong presence in diversified fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.

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