Kaveri Seed jumps after bulk purchase of shares by Ashoka Pte

Kaveri Seed Company surged 7.87% to Rs 344 at 10:54 IST on BSE after Ashoka Pte bought 3.97 lakh shares of the company at Rs 337.71 per share in a bulk deal on the NSE yesterday, 30 December 2015.

Meanwhile, the S&P BSE Sensex was up 36.18 points or 0.14% at 25,996.21.

On BSE, so far 9.13 lakh shares were traded in the counter as against average daily volume of 1.57 lakh shares in the past one quarter.

The stock hit a high of Rs 349 and a low of Rs 313.50 so far during the day. The stock had hit a 52-week low of Rs 301 yesterday, 30 December 2015. The stock had hit a record high of Rs 1,077 on 20 March 2015.

The stock had underperformed the market over the past one month till 30 December 2015, sliding 24.63% compared with Sensex's 0.71% fall. The scrip had also underperformed the market in past one quarter, declining 24.73% as against Sensex's 0.74% fall.

The small-cap company has equity capital of Rs 13.81 crore. Face value per share is Rs 2.

On consolidated basis, Kaveri Seed Company reported net loss of Rs 47.53 crore in Q2 September 2015 compared with net profit of Rs 33.52 crore in Q2 September 2014. Net sales declined 54.1% to Rs 93.42 crore in Q2 September 2015 over Q2 September 2014.

Kaveri Seed Company makes hybrid seeds.

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