Kajaria Ceramics gains ahead of record date for stock split

Kajaria Ceramics rose 1.75% to Rs 710.80 at 11:25 IST on BSE ahead of the record date for the proposed stock split tomorrow, 5 October 2016.

Meanwhile, the BSE Sensex was up 58.83 points, or 0.21%, to 28,302.12.

On BSE, so far 5,084 shares were traded in the counter, compared with average daily volume of 8,052 shares in the past one quarter. The stock hit a high of Rs 721 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 705 so far during the day. The stock hit a 52-week low of Rs 395 on 5 October 2015. The stock had outperformed the market over the past 30 days till 3 October 2016, rising 9.12% compared with 1.01% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.21% as against Sensex's 3.96% rise.

The large-cap company has equity capital of Rs 15.89 crore. Face value per share is Re1.

Shares of Kajaria Ceramics turned ex-stock split today, 4 October 2016. Each equity share of Rs 2 fully paid up were divided into 2 equity shares of Rs 1 fully paid up. The primary motive of the stock-split proposal is to improve the liquidity in company's shares in the secondary equity market and to make the shares more affordable to small investors.

On a consolidated basis, net profit of Kajaria Ceramics rose 36.22% to Rs 63.41 crore on 8.41% rise in net sales to Rs 591.78 crore in Q1 June 2016 over Q1 June 2015.

Kajaria Ceramics manufactures ceramic/vitrified tiles.

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