Navkar Corp spurts 9.4% in 2 days after bulk deals

Navkar Corporation was up 1.8% to Rs 206.50 at 15:15 IST on BSE, with the stock extending Wednesday's rally on the back of bulk purchases via open market transaction yesterday, 3 January 2018.

Meanwhile, the S&P BSE Sensex was up 188.07 points or 0.56% at 33,981.45. The S&P BSE Mid-Cap index advanced 0.72%, outperforming the Sensex.

On the BSE, 5.14 lakh shares were traded on the counter so far as against average daily volumes of 79,462 shares in the past one quarter. The stock had hit a high of Rs 211.90 and a low of Rs 203 so far during the day. The stock had hit a record high of Rs 246.55 on 12 May 2017 and a 52-week low of Rs 155.05 on 16 February 2017.

The mid-cap company has equity capital of Rs 150.52 crore. Face value per share is Rs 10.

Shares of Navkar Corporation have surged 9.4% in two trading sessions, to its ruling price, from its closing of Rs 188.75 on 2 January 2018.

Everest Finance and Investment Company bought 10 lakh shares of Navkar Corporation at Rs 187.06 per share in a bulk deal on the BSE yesterday, 3 January 2018. On the same day, Ashish Rameshchandra Kacholia bought 10 lakh shares at Rs 187 apiece in a bulk deal on the NSE.

On a consolidated basis, Navkar Corporation's net profit rose 10.7% to Rs 24.81 crore on 19.7% growth in net sales to Rs 107.80 crore in Q2 September 2017 over Q2 September 2016.

Navkar Corporation is a container freight stations (CFSs) operator in India with three CFSs. The company operates in close proximity to the Jawaharlal Nehru Port (JNP), the largest container port in India.

Powered by Capital Market - Live News