Jyothy Laboratories drops on profit booking

Jyothy Laboratories lost 2.42% to Rs 197.95 at 14:32 IST on BSE, with the stock halting recent upmove on profit booking.

Meanwhile, the S&P BSE Sensex was up 10.02 points or 0.05% at 20,967.83

On BSE, 26,167 shares were traded in the counter as against average daily volume of 27,508 shares in the past one quarter.

The stock hit a high of Rs 205.80 and a low of Rs 195.10 so far during the day. The stock hit a record high of Rs 220.60 in intraday trade on Thursday, 5 December 2013. The stock had hit a 52-week low of Rs 140 on 4 June 2013.

The stock had outperformed the market over the past one month till 5 December 2013, rising 6.18% compared with the Sensex's 0.08% fall. The scrip also outperformed the market in past one quarter, surging 37.85% as against Sensex's 10.42% rise.

The mid-cap company has equity capital of Rs 18.10 crore. Face value per share is Re 1.

Shares of Jyothy Laboratories were on a roll recently, surging 17.15% in six trading days to Rs 202.85 on 5 December 2013 from a recent low of Rs 173.15 on 27 November 2013. Gains caught momentum after the company after market hours on Tuesday, 3 December 2013 said it has allotted 1.5 crore equity shares to Sahyadri Agencies on preferential allotment basis at Rs 175.15 per share against receipt of entire amount payable by Sahyadri Agencies in cash aggregating to Rs 262.72 crore.

Jyothy Laboratories' net profit spurted 1481.1% to Rs 20.87 crore on 33.1% growth in net sales to Rs 305.92 crore in Q2 September 2013 over Q2 September 2012.

Jyothy Laboratories manufactures and distributes brands across product categories as diverse as fabric care, household insecticides, utensil cleaners, fragrances, personal care, besides marketing tea and coffee brands.

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