IFB Agro extends gains to hit record high

IFB Agro Industries surged 5.05% to Rs 690 at 15:16 IST on BSE, with the stock extending its recent rally to hit fresh alltime high.

Meanwhile, the S&P BSE Sensex was up 111.89 points or 0.35% at 32,501.85. The S&P BSE Sensex was up 14.20 points or 0.08% at 17,095.64.

On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 1,871 shares in the past one quarter. The stock had hit a high of Rs 722 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 670 so far during the day. The stock hit a 52-week low of Rs 327.20 on 22 November 2016.

The stock had outperformed the market over the past one month till 19 October 2017, rising 53.64% compared with 0.03% decline in the Sensex. The scrip had outperformed the market in past one quarter, gaining 58.21% as against Sensex's 1.13% rise. The scrip had also outperformed the market in past one year, surging 56.38% as against Sensex's 15.14% rise.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Shares of IFB Agro Industries gained for sixth day in a row. At its prevailing price, the stock has jumped 57.09% in five sessions from its close of Rs 439.25 on 13 October 2017.

IFB Agro Industries' net profit fell 28.52% to Rs 7.27 crore on 23.01% growth in net sales to Rs 336.34 crore in Q1 June 2017 over Q1 June 2016.

IFB Agro Industries manufactures and distributes grain alcohol, DDGS, CO2, organic manure, alcoholic beverages, aqua feed and processed frozen shrimps for domestic and export markets.

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