Mcleod Russel India gains on bargain hunting

Mcleod Russel India rose 2.19% to Rs 196.25 at 11:20 IST on BSE on bargain hunting after a recent decline.

Meanwhile, the S&P BSE Sensex was up 197 points, or 0.58% to 34,350.85. The S&P BSE Small-Cap index was up 144.94 points, or 0.74% at 19,849.86

On the BSE, 27,000 shares were traded in the counter so far, compared with average daily volumes of 3.31 lakh shares in the past one quarter. The stock had hit a high of Rs 197.95 and a low of Rs 192.55 so far during the day. The stock hit a 52-week high of Rs 248.30 on 30 November 2017. The stock hit a 52-week low of Rs 139.50 on 5 January 2017.

The small-cap company has equity capital of Rs 54.73 crore. Face value per share is Rs 5.

Shares of Mcleod Russel India had declined 7.57% in six trading sessions to settle at Rs 192.05 on 5 January 2018, from its close of Rs 207.80 on 28 December 2017.

Net profit of Mcleod Russel India rose 8.7% to Rs 143.52 crore on 0.7% decline in net sales to Rs 468.63 crore in Q2 September 2017 over Q2 September 2016.

Mcleod Russel India is engaged in manufacturing of tea

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