Mayur Uniquoters spurts as mutual fund purchases bulk shares from secondary market

Mayur Uniquoters spurted 9.71% to Rs 454.20 at 10:51 IST on BSE after DSP Blackrock Mutual Fund bought 12.77 lakh shares of the company at Rs 399.98 per share in bulk deals on NSE on Friday, 26 September 2014.

Meanwhile, the S&P BSE Sensex was up 35.45 points or 0.13% at 26,661.77.

On BSE, so far 32,000 shares were traded in the counter as against average daily volume of 7,177 shares in the past one quarter.

The stock was volatile. The stock surged as much as 14.66% at the day's high of Rs 474.70 so far during the day. The stock jumped 3.84% at the day's low of Rs 429.90 so far during the day. The stock had hit a record high of Rs 485 on 23 July 2014. The stock had hit a 52-week low of Rs 115 on 27 September 2013.

The stock had underperformed the market over the past one month till 26 September 2014, advancing 0.17% compared with Sensex's 0.69% rise. The scrip had, however, outperformed the market in past one quarter, jumping 12.5% as against Sensex's 6.24% rise.

The small-cap company has equity capital of Rs 21.65 crore. Face value per share is Rs 5.

DSP Blackrock Mutual Fund bought 12.77 lakh shares of Mayur Uniquoters at Rs 399.98 per share in a bulk deal on NSE on Friday, 26 September 2014. Poddar Kiran sold 4.50 lakh shares at Rs 400.77 per share. Poddar Manav sold 3.50 lakh shares at Rs 400.25 per share and Suresh Kumar Poddar & Sons (HUF) sold 3.50 lakh shares at Rs 400.01 per share in these deals.

Mayur Uniquoters' net profit jumped 30.5% to Rs 14.98 crore on 17.7% growth in net sales to Rs 121.49 crore in Q1 June 2014 over Q1 June 2013.

Mayur Uniquoters is the largest manufacturer of artificial leather/PVC vinyl, using the release paper transfer coating technology in India.

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