Emami drops after two block deals

Emami lost 2.01% to Rs 468.65 at 12:36 IST on BSE after two block deals aggregating 3.54 lakh shares were executed on BSE at Rs 470 per share.

A block deal of 1.26 lakh shares was executed at 10:45 IST while another block deal of 2.28 lakh shares was executed at 10:48 IST.

The two block deals constitute 0.15% of Emami's equity.

Meanwhile, the S&P BSE Sensex was down 7.55 points or 0.04% at 19,774.33.

On BSE, 3.69 lakh shares were traded in the counter as against average daily volume of 36,784 shares in the past one quarter.

The stock hit a high of Rs 483.90 and a low of Rs 466.10 so far during the day. The stock had hit a 52-week low of Rs 319.07 on 25 September 2012. The stock had hit a record high of Rs 539.40 on 12 July 2013.

The stock had outperformed the market over the past one month till 12 September 2013, surging 4.84% compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, advancing 1.96% as against Sensex's 3.89% rise.

The large-cap company has equity capital of Rs 22.70 crore. Face value per share is Re 1.

Emami's consolidated net profit surged 30.2% to Rs 60.68 crore on 13.2% growth in net sales to Rs 383.65 crore in Q1 June 2013 over Q1 June 2012.

Emami is one of the leading personal and healthcare businesses in India, with an enviable portfolio of household brand names such as Boroplus, Navratna, Fair and Handsome, Zandu balm, Mentho Plus balm and Fast Relief.

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