Globus Spirits gains over 8% in three sessions

Globus Spirits rose 1.24% to Rs 90.10 at 11:56 IST on BSE, extending recent gains triggered by the company resuming operations at its Bihar unit.

Meanwhile, the BSE Sensex was up 262.53 points, or 1%, to 26,628.68.

On the BSE, so far 20,000 shares were traded in the counter, compared with average daily volumes of 89,928 shares in the past one quarter. The stock had hit a high of Rs 92 and a low of Rs 89 so far during the day.

The stock hit a 52-week high of Rs 115.90 on 29 September 2016. The stock hit a 52-week low of Rs 50.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 29 December 2016, falling 4.86% compared with the 1.08% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.31% as against Sensex's 5.38% decline.

The small-cap company has equity capital of Rs 28.80 crore. Face value per share is Rs 10.

Globus Spirits said it resumed its operation and commenced its commercial production (with a production capacity of 80,000 bulk litre per day) on 2 December 2016 after removing all the technical bottlenecks at its unit at Jandoho in Bihar. The operations at the Bihar unit were disrupted since 5 September 2016 owing to flooding at the factory premises caused by heavy rains. The announcement was made during trading hours on Wednesday, 28 December 2016.

Shares of Globus Spirits rose 2.82% to settle at Rs 85.70 on Wednesday, 28 December 2016. The stock has risen 8.10% in three session from its close of Rs 83.35 on Tuesday, 27 December 2016.

Net profit of Globus Spirits declined 97.62% to Rs 0.03 crore on 0.4% rise in net sales to Rs 161.74 crore in Q2 September 2016 over Q2 September 2015.

Globus Spirits is one of the leading players in the Indian alcoholic beverages industry. It caters to four important segments of the alcohol industry - Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), IMFL bottling and bulk alcohol.

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