Murudeshwar Ceramics gains as board to consider preferential issue of shares

Murudeshwar Ceramics surged 5.74% to Rs 32.25 at 09:32 IST on BSE after the company scheduled a board meeting on 25 January 2017 to consider issue of equity shares/convertible warrants to the promoter/promoter's group companies on preferential basis.

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 104.66 points, or 0.39%, to 27,245.07

On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 32,692 shares in the past one quarter. The stock had hit a high of Rs 33 and a low of Rs 31.90 so far during the day.

The stock hit a 52-week high of Rs 40.95 on 28 September 2016. The stock hit a 52-week low of Rs 17.70 on 29 February 2016. The stock had outperformed the market over the past 30 days till 11 January 2017, rising 2.35% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 13.89% as against Sensex's 1.82% fall.

The small-cap company has equity capital of Rs 40.81 crore. Face value per share is Rs 10.

Murudeshwar Ceramics has steadily progressed to become one of Indias largest tile manufacturing company, producing the widest range of products in ceramic and vitrified tiles.

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