Kaveri Seed gains after strong Q2 earnings

Kaveri Seed Company rose 2.05% to Rs 1610.05 at 15:19 IST on BSE after consolidated net profit surged 45.96% to Rs 8.86 crore on 61.95% growth in total income from operations to Rs 103.23 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced during trading hours today, 14 November 2013.

Meanwhile, the S&P BSE Sensex was up 208.41 points or 1.03% at 20,402.81.

On BSE, 2,129 shares were traded in the counter as against average daily volume of 2,322 shares in the past one quarter.

The stock hit a high of Rs 1,630 and a low of Rs 1,591.05 so far during the day. The stock had hit a record high of Rs 1,720 on 14 August 2013. The stock hit a 52-week low of Rs 1,100 on 25 March 2013.

The stock had outperformed the market over the past one month till 13 November 2013, surging 3.38% compared with the Sensex's 1.63% fall. The scrip had, however, underperformed the market in past one quarter, declining 6.42% as against Sensex's 5.02% rise.

The small-cap company has equity capital of Rs 13.75 crore. Face value per share is Rs 10.

Kaveri Seed Company's board of directors at a meeting held today, 14 November 2013, approved 5-for-1 stock-split.

Kaveri Seed Company makes hybrid seeds. High yielding hybrid crops such as cotton, corn, paddy, bajra and sunflower are the major crops for which the company enjoys a strong leadership position in the seed production and marketing.

Powered by Capital Market - Live News