Gujarat Apollo Industries gains on buyback plan

Gujarat Apollo Industries rose 2.64% to Rs 107.05 at 9:55 IST on BSE after the company said its board of directors will meet on 18 January 2014, to consider a proposal of buyback of equity shares of the company.

The announcement was made after market hours on Monday, 13 January 2014.

Meanwhile, the S&P BSE Sensex was down 18.26 points or 0.09% at 21.115.95.

On BSE, 4,685 shares were traded in the counter as against average daily volume of 11,992 shares in the past one quarter.

The stock hit a high 110.85 and a low of Rs 106.10 so far during the day. The stock had hit a 52-week high of Rs 122.80 on 25 February 2013. The stock had hit a 52-week low of Rs 76 on 28 August 2013.

The stock had outperformed the market over the past one month till 13 January 2014, advancing 3.63% compared with the Sensex's 2.02% rise. The stock had also outperformed the market in past one quarter, jumping 23.29% as against Sensex's 2.95% rise.

The small-cap company has equity capital of Rs 16.58 crore. Face value per share is Rs 10.

Gujarat Apollo Industries' net profit fell 5.9% to Rs 2.23 crore on 82.9% decline in net sales to Rs 6.92 crore in Q2 September 2013 over Q2 September 2012.

Gujarat Apollo Industries is engaged in road construction equipment business in India.

Powered by Capital Market - Live News