Hatsun Agro Product spurts ahead of record date for bonus shares

Hatsun Agro Product rose 5.93% to Rs 490 at 15:07 IST on BSE ahead of the record date for the company's 2-for-5 bonus issue of shares to shareholders on 14 July 2016.

Meanwhile, the BSE Sensex was down 64.96 points, or 0.24%, to 27,136.53.

On BSE, so far 15,000 shares were traded in the counter, compared with average daily volume of 1,010 shares in the past one quarter. The stock hit a high of Rs 504.85 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 465 so far during the day. The stock hit a 52-week low of Rs 357.10 on 9 July 2015. The stock had underperformed the market over the past 30 days till 7 July 2016, falling 4.04% compared with 0.67% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.66% as against Sensex's 10.24% rise.

The mid-cap company has an equity capital of Rs 10.87 crore. Face value per share is Re 1.

Hatsun Agro Product during trading hours today, 8 July 2016, announced that its board will allot bonus equity shares in the ratio of two new equity shares for every five existing equity shares (2-for-5) to the shareholders on 15 July 2016. The company had earlier on 4 July 2016, fixed 14 July 2016 as the record date for the bonus issue.

The bonus issue was approved by the board at its meeting held on 27 May 2016. The issue was also approved by the company's shareholders via postal ballot process which was open between 31 May 2015 and 29 June 2016.

Hatsun Agro Product will announce Q1 June 2016 results on 15 July 2016. The company reported net loss of Rs 16.79 crore in Q4 March 2016 as against net profit of Rs 8.66 crore in Q4 March 2015. Net sales rose 15.87% to Rs 892.05 crore in Q4 March 2016 over Q4 March 2015.

Hatsun Agro Product is India's largest private sector dairy.

Powered by Capital Market - Live News