Kiri Industries advances after good Q1 numbers

Kiri Industries rose 3.88% to Rs 305.50 at 10:44 IST on BSE after consolidated net profit rose 26.9% to Rs 103.68 crore on 6.8% decrease in net sales to Rs 272.64 crore in Q1 June 2017 over Q1 June 2016.

The result was announced on Friday, 25 August 2017. When market remained closed for Ganesh Chaturthi.

Meanwhile, the S&P BSE Sensex was up 168.46 points, or 0.53% at 31,764.52. The S&P BSE Small-Cap index was up 126.89 points, or 0.81% at 15,774.02.

High volumes were witnessed on the counter. On the BSE, 80,000 shares were traded on the counter so far as against the average daily volumes of 45,507 shares in the past one quarter. The stock had hit a high of Rs 314.25 and a low of Rs 302 so far during the day. The stock had hit a 52-week high of Rs 377.90 on 1 November 2016 and a 52-week low of Rs 227.05 on 11 August 2017.

The stock had outperformed the market over the past one month till 24 August 2017, advancing 7.57% compared with the Sensex's 2.02% fall. The scrip had also outperformed the market over the past one quarter gaining 13.62% as against the Sensex's 4.27% rise. The scrip had, however, underperformed the market over the past one year declining 16.21% as against the Sensex's 12.6% rise.

The small-cap company has equity capital of Rs 27.84 crore. Face value per share is Rs 10.

Kiri Industries is engaged in manufacturing dyes, intermediaries and basic chemicals.

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