GM Breweries jumps over 37% in two sessions

GM Breweries surged 13.90% to Rs 150.40 at 11:58 IST on BSE, extending Friday's 20% rise triggered by the company's plan to issue bonus shares to shareholders.

Meanwhile, the BSE Sensex was up 35.77 points, or 0.16%, to 22,375.74.

On BSE, so far 3.65 lakh shares were traded in the counter, compared with an average volume of 21,441shares in the past one quarter.

The stock hit a high of Rs 154 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 134.10 so far during the day. The stock hit a 52-week low of Rs 55 on 25 June 2013.

The stock had outperformed the market over the past one month till 28 March 2014, rising 34.54% compared with the Sensex's 5.78% rise. The scrip had also outperformed the market in past one quarter, rising 26.36% as against Sensex's 5.41% rise.

The small-cap company has equity capital of Rs 9.36 crore. Face value per share is Rs 10.

GM Breweries announced during trading hours on Friday, 28 March 2014, that its board will consider issue of bonus shares during its board meeting on 3 April 2014.

Shares of GM Breweries surged 19.99% to Rs 132.05 on Friday, 28 March 2014. The stock has risen 36.67% in two trading sessions from Rs 110.05 on 27 March 2014.

GM Breweries' net profit surged 102.4% to Rs 4.29 crore on 1.3% growth in net sales to Rs 76.85 crore in Q3 December 2013 over Q3 December 2012.

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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