MPS spurts after announcing completion of Magplus acquisition

MPS jumped 6.72% to Rs 776.50 at 10:36 IST on BSE after the company announced that it has completed the acquisition of Magplus, a leading digital platform company for creating and distributing content apps, based in Sweden and USA.

The announcement was made on Saturday, 2 July 2016.

Meanwhile, BSE Sensex was up 199.49 points or 0.73% to 27,344.40

On BSE, so far 6,591 shares were traded in the counter. The stock had an average daily volume of 1,949 shares in the past one quarter. The stock hit a high of Rs 800 and low of Rs 750 so far during the day. The stock hit a 52-week high of Rs 939 on 17 July 2015. The stock had hit a 52-week low of Rs 610 on 25 February 2016. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 9.96% compared with 1.12% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.24% as against Sensex's 7.42% rise.

The small-cap company has equity capital of Rs 18.62 crore. Face value per share is Rs 10.

Magplus was a part of Bonnier Growth Media which is the venture arm of media conglomerate Bonnier and home to some of the fastest growing companies in the group.

Rahul Arora, CEO, MPS said that the acquistion of Magplus has enhanced thye company's platform capabilities and expanded its reach into newer publishing markets including enterprises and magazine publishers.

MPS' consolidated net profit jumped 76.22% to Rs 22.31 crore on 29.27% rise in total income to Rs 71.82 crore in Q4 March 2016 over Q4 March 2015.

MPS is a leading provider of platforms and services for content development, production and distribution.

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