Hatsun Agro Product gains as board to consider preferential allotment

Hatsun Agro Product gained 2.35% to Rs 310.90 at 12:25 IST on BSE after the company said that a meeting of the board of directors of the company will be held on 18 November 2014, to consider preferential allotment to non promoter group.

The announcement was made after market hours on Monday, 10 November 2014.

Meanwhile, the S&P BSE Sensex was down 64.35 points or 0.23% at 27,810.34.

On BSE, so far 60 shares were traded in the counter as against average daily volume of 3,561 shares in the past one quarter.

The stock hit a high of Rs 310.95 and a low of Rs 310 so far during the day. The stock had hit a record high of Rs 379.40 on 19 September 2014. The stock had hit a 52-week low of Rs 165 on 13 November 2013.

The stock had underperformed the market over the past one month till 10 November 2014, declining 0.34% compared with the Sensex's 6% rise. The scrip had, however, outperformed the market in past one quarter, rising 11.08% as against Sensex's 10.05% rise.

The mid-cap media firm has an equity capital of Rs 10.77 crore. Face value per share is Re 1.

Hatsun Agro Product's board to consider allotment of 10 lakh equity shares of Re 1 each at Rs 300 per share on preferential basis to select persons/entities belonging to non-promoter group consequent to the approval of shareholders of the company through postal ballot on 28 October 2014.

The company's net profit declined 66.8% to Rs 10.27 crore on 21.9% rise in total income to Rs 747.13 crore in Q2 September 2014 over Q2 September 2013.

The company sells dairy and dairy related products.

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