Kaveri Seed scales record high on timely arrival of monsoon rains

Meanwhile, the S&P BSE Sensex was down 54.12 points or 0.28% at 19,491.66.

On BSE, 11,695 shares were traded in the counter as against average daily volume of lakh 2,201 shares in the past one quarter.

The stock hit a high of Rs 1,620 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,591 so far during the day. The stock had hit a 52-week low of Rs 662 on 4 June 2012.

The stock had outperformed the market over the past one month till 4 June 2013, surging 36.38% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, jumping 18.17% as against Sensex's 3.54% gain.

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

Shares of Kaveri Seed Company, which makes agriculture inputs, have rallied 14.32% in three trading sessions from a recent low of Rs 1,405.70 on 31 May 2013. The stock had surged following the arrival of monsoon in Kerala coast on 1 June 2013. The southwest monsoon has further advanced towards parts of central Arabian Sea, Goa, parts of south Konkan, south central Maharashtra, Telangana, south coastal AP, south interior Karnataka, Rayalaseema, north interior Karnataka and some parts of central Bay of Bengal.

Kaveri Seed Company's net profit surged 298.9% to Rs 11.13 crore on 77.6% growth in net sales to Rs 73.99 crore in Q4 March 2013 over Q4 March 2012.

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.

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