Navkar Corp spurts after bulk deal

Navkar Corporation surged 7.63% to Rs 194.75 at 14:31 IST on BSE after a bulk deal of 5.01 lakh shares was executed on the scrip at Rs 190 per share at 11:57 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 33.80 points or 0.1% at 33,376.60. The S&P BSE Small-Cap index was up 146.64 points or 0.83% at 17,751.77.

Bulk deal boosted volume on the scrip. On BSE, so far 5.87 lakh shares were traded in the counter as against average daily volume of 13,938 shares in the past one quarter. The stock had hit a high of Rs 195 and low of Rs 185 so far during the day. The stock had hit a record high of Rs 246.55 on 12 May 2017. The stock had hit a 52-week low of Rs 155 on 28 December 2016.

The stock had underperformed the market over the past one month till 17 November 2017, falling 9.02% compared with 2.94% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 3.75% as against Sensex's 5.77% rise. The scrip also underperformed the market in past one year, rising 0.81% as against Sensex's 27.50% rise.

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

On consolidated basis, the company's net profit rose 10.71% to Rs 24.81 crore on 19.72% 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.

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