Lypsa Gems gains on board's nod for bonus issue

Lypsa Gems & Jewellery advanced 3.41% to Rs 65.15 at 10:58 IST on BSE after the company said its board approved issue of bonus shares in the ratio of 2:5.

The result was announced after market hours yesterday, 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 135.97 points or 0.44% at 30,886. The S&P BSE Small-Cap index was up 212.28 points or 1.43% at 15,061.01.

On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 72,505 shares in the past one quarter. The stock had hit a high of Rs 67.50 and a low of Rs 64 so far during the day.

The stock had hit a 52-week high of Rs 96.65 on 6 June 2016 and a record low of Rs 49 on 30 November 2016. It had underperformed the market over the past one month till 25 May 2017, sliding 10.83% compared with the Sensex's 2.69% rise. The scrip had also underperformed the market over the past one quarter, declining 6.6% as against the Sensex's 6.43% rise.

The small-cap company has equity capital of Rs 21.06. Face value per share is Rs 10.

Lypsa Gems & Jewellery's net profit jumped 593.1% to Rs 7 crore on 55.7% growth in net sales to Rs 80.05 crore in Q4 March 2017 over Q4 March 2016.

Lypsa Gems & Jewellery is a wholly owned integrated diamond company sourcing rough diamonds from the major diamond mines and dealers, cutting and polishing them in its own factories & marketing its product to clients across the globe. It also sells diamond-studded jewellery under the Oropel and Lypsa Atelier brand names.

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