GeeCee Ventures hits 52-week high after stellar Q2 results

GeeCee Ventures jumped 19.77% to Rs 103 at 13:12 IST on BSE after net profit surged 736.9% to Rs 11.80 crore on 1270.2% growth in net sales to Rs 61.11 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 4 November 2015.

Meanwhile, the S&P BSE Sensex was down 111.30 points or 0.42% at 26,441.62.

On BSE, so far 67,000 shares were traded in the counter as against average daily volume of 3,423 shares in the past one quarter.

The stock hit a high of Rs 103.20 so far during the day, which is also its 52-week high for the counter. The stock hit a low of Rs 91.05 so far during the day. The stock had hit a 52-week low of Rs 37.30 on 5 November 2014.

The stock had outperformed the market over the past one month till 4 November 2015, surging 17.81% compared with Sensex's 1.27% rise. The scrip had also outperformed the market in past one quarter, sliding 4.39% as against Sensex's 5.41% fall.

The small-cap company has equity capital of Rs 19.03 crore. Face value per share is Rs 10.

GeeCee Ventures' board of directors at a meeting held yesterday, 4 November 2015, inter alia, decided to convene an extra-ordinary general meeting of the shareholders of the company on 15 December 2015, as per the directions of the High Court in the matter of amalgamation of GeeCee Logistics Distributions, a wholly-owned subsidiary with GeeCee Ventures.

GeeCee Ventures is engaged in the manufacturing and marketing of specialty chemicals, catering to both the domestic and exports customers in the agrochemical, paints and coatings, dyes and flavour & fragrance industries.

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