Kajaria Ceramics scales lifetime high after stock-split announcement

Kajaria Ceramics gained 1.6% to Rs 1,197.80 at 11:49 IST on BSE after the company announced a 2-for-1 stock split.

Meanwhile, the S&P BSE Sensex was up 112.12 points or 0.42% at 26,637.58

On BSE, so far 4,883 shares were traded in the counter as against average daily volume of 10,947 shares in the past one quarter. The stock hit a high of Rs 1,204.90 so far during the trading session, which is a record high for the counter. The stock hit a low of Rs 1,178.50 so far during the day. The stock had hit a 52-week low of Rs 607.35 on 25 August 2015. The stock had outperformed the market over the past one month till 16 June 2016, surging 11.14% compared with the Sensex's 3.4% rise. The scrip had also underperformed the market in past one quarter, surging 24.57% as against the Sensex's 7.47% rise.

The mid-cap company has equity capital of Rs 15.89 crore. Face value per share is Rs 2.

Each equity share of Rs 2 fully paid up will be 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.

Based on consolidated financial performance, the company's net profit rose 27.8% to Rs 66.04 crore on 11.9% growth in net sales to Rs 655.12 crore in Q4 March 2016 over Q4 March 2015.

Kajaria Ceramics manufactures ceramic/vitrified tiles. It has an annual aggregate capacity of 68.60 million square meters, distributed across nine plants -- Sikandrabad in Uttar Pradesh, Gailpur & Malootana in Rajasthan, five plants in Gujarat and one at Vijayawada in Andhra Pradesh.

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