Mafatlal Industries gains after bulk deal

Mafatlal Industries advanced 4.55% to Rs 312.30 after a bulk deal of 1.35 lakh shares was executed on the scrip at Rs 347 per share in early trade on BSE.

Meanwhile, the BSE Sensex was down 274.10 points, or 1%, to 27,034.50

Bulk deal boosted volume on the scrip. On BSE, so far 1.56 lakh shares were traded in the counter compared with average volume of 4,347 shares over the past one quarter. The stock hit a high of Rs 347 and a low of Rs 305 so far during the day. The stock had hit a 52-week high of Rs 374.40 on 27 October 2016. The stock had hit a 52-week low of Rs 199 on 29 February 2016.

The small-cap company has equity capital of Rs 13.91 crore. Face value per share is Rs 10.

Mafatlal Industries' net profit surged 290.1% to Rs 10.26 crore on 7.65% rise in net sales to Rs 294.86 crore in Q2 September 2016 over Q2 September 2015.

Mafatlal Industries is engaged in manufacture of plain and pattern woven, yarn and piece dyed, and printed fabrics for apparel, bedding and furnishing, from cotton and blends with polyester.

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