Ganesha Ecosphere jumps as SBI equity fund purchases bulk shares

Ganesha Ecosphere surged 5.91% to Rs 141.50 at 10:34 IST on BSE after SBI Equity Opportunities Fund - Series IV bought 2.80 lakh shares of the company at an average price of Rs 110 per share in a bulk deal on the NSE yesterday, 23 November 2015.

Meanwhile, the S&P BSE Sensex was up 21.54 points or 0.08% at 25,840.88.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 4,787 shares in the past one quarter.

The stock hit a high of Rs 148 and a low of Rs 135.20 so far during the day. The stock had hit a 52-week high of Rs 183.80 on 24 July 2015. The stock had hit a 52-week low of Rs 109 on 18 November 2015.

The stock had outperformed the market over the past one month till 23 November 2015, surging 14.48% compared with Sensex's 6.01% fall. The scrip had, however, underperformed the market in past one quarter, declining 9.24% as against Sensex's 5.65% fall.

The small-cap company has equity capital of Rs 19.18 crore. Face value per share is Rs 10.

Ganesha Ecosphere's net profit fell 15.2% to Rs 5.78 crore on 2.1% growth in net sales to Rs 158.68 crore in Q2 September 2015 over Q2 September 2014.

Ganesha Ecosphere is engaged in the recycling of post consumer pet bottle waste into recycled poyester staple fibre (RPSF).

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