HOV Services turns highly volatile after announcing Q2 results

HOV Services was up 0.2% to Rs 298.30 at 14:35 IST on BSE after net profit surged 88% to Rs 0.47 crore on 1.37% growth in total income to Rs 3.69 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during market hours today, 5 December 2017.

Meanwhile, the S&P BSE Sensex was up 6.68 points or 0.02% at 32,876.40. The S&P BSE Small-Cap index fell 0.07%, underperforming the Sensex.

On the BSE, 48,000 shares were traded on the counter so far as against average daily volumes of 9,543 shares in the past one quarter. The stock was highly volatile. The stock surged as much as 5.47% at the day's high of Rs 314 so far during the day. The stock lost as much as 1.79% at the day's low of Rs 292.35 so far during the day. The stock had hit a record high of Rs 350.50 on 23 May 2017 and a 52-week low of Rs 101 on 8 December 2016.

The stock had outperformed the market over the past one month till 4 December 2017, advancing 4.79% compared with the Sensex's 2.42% fall. The stock had also outperformed the market over the past one quarter, gaining 6.25% as against the Sensex's 3.68% rise. The scrip had also outperformed the market over the past one year, advancing 181.78% as against the Sensex's 25.31% rise.

The small-cap company has equity capital of Rs 12.54 crore. Face value per share is Rs 10.

HOV Services, operates as a hybrid between investment and diversified services corporation. The company has grown over the last decade plus through series of key acquisitions.

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