Navin Fluorine advances as stock split takes effect

Navin Fluorine International rose 2.66% to Rs 672.45 at 12:46 IST on BSE after turning ex-stock split today, 19 July 2017, for face value of Rs 2 each from Rs 10 earlier.

Meanwhile, the S&P BSE Sensex was up 191.19 points or 0.6% at 31,902.18. The S&P BSE Mid-cap index rose 124.23 points or 0.82% at 15,231.08.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 12,136 shares in the past one quarter. The stock had hit a high of Rs 684.75 and a low of Rs 665 so far during the day.

The stock had outperformed the market over the past one month till 18 July 2017, gaining 3.88% compared with the Sensex's 2.11% rise. The stock had, however, underperformed the market over the past one quarter, advancing 3.56% as against the Sensex's 8.16% rise. The scrip had outperformed the market over the past one year, surging 49.78% as against the Sensex's 14.29% rise.

The mid-cap company has equity capital of Rs 9.85 crore. Face value per share is Rs 2.

The record date for the purpose of 5-for-1 stock split is tomorrow, 20 July 2017.

Navin Fluorine International's net profit fell 6.7% to Rs 29.38 crore on 5.8% increase in net sales to Rs 200.53 crore in Q4 March 2017 over Q4 March 2016.

Navin Fluorine International is the largest integrated specialty fluorochemical company in India.

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