Mukand hits the roof after twin bulk deals

Mukand was locked at 5% upper circuit at Rs 25.20 at 11:22 IST on BSE, after 0.51% equity changed hands in two bulk deals today, 30 December 2013.

A bulk deal of 1.88 lakh shares was executed on the Mukand scrip at Rs 24.75 per share at 11:08 IST on BSE today, 30 December 2013. Another bulk deal of 1.91 lakh shares was struck on the counter at Rs 24.85 per share at 11:09 IST on BSE today, 30 December 2013.

Meanwhile, the S&P BSE Sensex was down 28.76 points, or 0.14% to 21,164.82

The stock gained on high volumes. On BSE, so far 3.85 lakh shares were traded in the counter with pending buy orders of 31,094 shares at upper circuit. The stock has an average daily volume of 6,471 shares in the past one quarter.

The stock hit a high of Rs 25.20 and a low of Rs 24.25 so far during the day. The stock had hit a 52-week high of Rs 33.90 on 8 January 2013 and a 52-week low of Rs 16 on 2 August 2013.

The small-cap stock had underperformed the market over the past one month till 27 December 2013, rising 2.35% compared with the Sensex's 3.79% rise. The scrip also underperformed the market in past one quarter, rising 3.9% as against Sensex's 7.43% rise.

The company's equity capital is Rs 73.11 crore. Face value per share is Rs 10.

Mukand reported net loss of Rs 31.22 crore in Q2 September 2013 compared to net profit of Rs 39.80 crore in Q2 September 2012. Net sales rose 31.3% to Rs 618.93 crore in Q2 September 2013 over Q2 September 2012.

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