Kovai Medical Center hits the roof after strong Q1 results

Kovai Medical Center & Hospital hit an upper circuit limit of 5% at Rs 762.75 at 15:15 IST on BSE after net profit rose 42.2% to Rs 14.42 crore on 13.7% rise in net sales to Rs 128.47 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after trading hours on Friday, 5 August 2016.

Meanwhile, the BSE Sensex was up 83.86 points, or 0.30%, to 28,162.21.

On BSE, so far 3,116 shares were traded in the counter, compared with average daily volume of 1,158 shares in the past one quarter. The stock opened with an upward gap of 5% at Rs 762.75 and remained stuck at that level so far. The stock hit a record high of Rs 928.25 on 11 August 2015. The stock hit a 52-week low of Rs 616.25 on 18 February 2016. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 3.85% compared with 3.22% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.39% as against Sensex's 11.30% rise.

The small-cap company has an equity capital of Rs 10.94 crore. Face value per share is Rs 10.

Kovai Medical Center & Hospital is a multispecialty hospital in Coimbatore.

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