KPR Mill surges on buyback proposal

KPR Mill jumped 6.9% to Rs 721.80 at 10:06 IST on BSE after the company said it has scheduled a board meeting on 22 February 2018, to consider the proposal for buyback of the fully paid-up equity shares of the company.

The announcement was made on Saturday, 17 February 2018.

Meanwhile, the S&P BSE Sensex was down 207.97 points or 0.61% at 33,802.79. The S&P BSE Mid-Cap index dropped 1.1%, underperforming the Sensex.

On the BSE, 7,479 shares were traded on the counter so far as against average daily volumes of 6,743 shares in the past one quarter. The stock had hit a high of Rs 730 and a low of Rs 692.10 so far during the day. The stock had hit a record high of Rs 882 on 8 June 2017 and a 52-week low of Rs 564.50 on 20 February 2017.

The stock had underperformed the market over the past one month till 16 February 2018, sliding 17.49% compared with the Sensex's 2.19% fall. The stock had also underperformed the market over the past one quarter, falling 6.32% as against the Sensex's 2.73% rise. The scrip had also underperformed the market over the past one year, surging 17.93% as against the Sensex's 20.17% rise.

The mid-cap company has equity capital of Rs 36.95 crore. Face value per share is Rs 5.

KPR Mill's consolidated net profit fell 0.3% to Rs 70.68 crore on 16.5% growth in net sales to Rs 714.51 crore in Q3 December 2017 over Q3 December 2016.

KPR Mill has one of the largest vertically integrated manufacturing capacities in India producing superior quality readymade knitted apparel.

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