Jyothy Laboratories hits record high

Jyothy Laboratories surged 7.04% to Rs 213.75 at 11:18 IST on BSE, with the stock extending recent upmove.

Meanwhile, the S&P BSE Sensex was up 356.65 points or 1.72% at 21,065.36

On BSE, 1.93 lakh shares were traded in the counter as against average daily volume of 21,384 shares in the past one quarter.

The stock hit a record high of Rs 220.60 in intraday trade today, 5 December 2013. The stock hit a low of Rs 201.90 so far during the day. 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 4 December 2013, rising 3.53% compared with the Sensex's 2.5% fall. The scrip had also outperformed the market in the past one quarter, advancing 34.52% as against Sensex's 11.53% surge.

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

Shares of Jyothy Laboratories are on a roll recently, surging 23.45% in six trading days 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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