Maithan Alloys jumps after large bulk deal

Maithan Alloys surged 13.88% to Rs 242.10 at 12:02 IST on BSE, after a large bulk deal of 55.05 lakh shares was executed on the scrip at Rs 214.80 per share in opening trade on BSE.

Meanwhile, the S&P BSE Sensex was down 99.10 points, or 0.38% to 25,952.71

Bulk deal boosted volume on the scrip. On BSE, so far 78.85 lakh shares were traded in the counter as against an average daily volume of 14,240 shares in the past one quarter. The stock hit a high of Rs 252.80 and a low of Rs 201 so far during the day. The stock had hit a 52-week high of Rs 434.50 on 8 August 2016. The stock hit 52-week low of Rs 84 on 12 February 2016. The stock had underperformed the market over the past 30 days till 23 November 2016, falling 20.39% compared with the 7.26% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 26.77% as against Sensex's 6.41% decline.

The small-cap company has equity capital is Rs 29.11 crore. Face value per share is Rs 10.

Maithan Alloys' net profit fell 32.31% to Rs 8.80 crore on 5.46% growth in net sales to Rs 289.77 crore in Q2 September 2016 over Q2 September 2015.

Maithan Alloys operates in the niche value-added manganese alloy segment.

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