Emami gains after board OKs bonus issue

The announcement was made after market hours on Monday, 6 May 2013.

Meanwhile, the BSE Sensex was up 81.23 points, or 0.41%, to 19,754.87.

On BSE, 44,000 shares were traded in the counter as against an average daily volume of 21,122 shares in the past one quarter.

The stock hit a high of Rs 699.30 and a low of Rs 673.20 so far during the day. The stock had hit a record high of Rs 743 on 22 February 2013. The stock had hit a 52-week low of Rs 425.10 on 8 May 2012.

The stock had outperformed the market over the past one month till 6 May 2013, rising 10.23% compared with the Sensex's 6.63% rise. The scrip had also outperformed the market in past one quarter, rising 13.39% as against Sensex's 0.17% rise.

The large-cap company has an equity capital of Rs 15.13 crore. Face value per share is Re 1.

The proposed bonus issue of shares is subject to approval of shareholders. The company will seek shareholders' approval through a postal ballot process.

Emami's consolidated net profit rose 29.9% to Rs 93.99 crore on 13.2% rise in net sales to Rs 450.95 crore in Q4 March 2013 over Q4 March 2012.

Consolidated net profit rose 21.6% to Rs 314.74 crore on 16.9% rise in net sales to Rs 1699.10 crore in the year ended March 2013 over the year ended March 2012. The result was announced after market hours on Monday, 6 May 2013.

The company board has recommended a dividend of Rs 8 per share for the year ended March 2013.

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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