GM Breweries in high spirits after strong Q2 results

GM Breweries was locked at 20% upper circuit at Rs 675.95 at 14:00 IST on BSE after provisional net profit rose 41.45% to Rs 15.73 crore on 22.81% rise in total income to Rs 385.28 crore in Q2 September 2017 over Q2 September 2016.

The announcement was made after market hours yesterday, 10 October 2017.

Meanwhile, the S&P BSE Sensex was up 18.28 points or 0.06% at 31,942.69. The S&P BSE Small-Cap index was down 55.17 points or 0.33% at 16,837.33, underperforming the Sensex.

High volume was witnessed on the counter. On the BSE, 2.48 lakh shares were traded in the counter so far as against average daily volume of 6,770 shares in the past one quarter. The stock had hit a high of Rs 675.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 605.10 so far during the day. The stock had hit a 52-week low of Rs 389 on 31 July 2017.

The stock had outperformed the market over the past one month till 10 October 2017, gaining 31.23% compared with the Sensex's 0.75% rise. The stock had also outperformed the market over the past one quarter, rising 16.75% as against the Sensex's 0.66% rise. The scrip had, however, underperformed the market over the past one year, dropping 4.29% as against the Sensex's 13.68% rise.

The small-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

GM Breweries is engaged in manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL).

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