Nitin Fire Protection spurts after Amitabh Bachchan buys stake

Nitin Fire Protection Industries hit an upper circuit limit of 10% at Rs 47.05 at 11:38 IST on BSE after film star Amitabh Bachchan bought 0.51% stake in the company through a bulk deal on NSE on Friday, 14 August 2015.

Meanwhile, the BSE Sensex was down 266.30 points, or 0.95%, to 27,801.01.

On BSE, so far 4.99 lakh shares were traded in the counter, compared with an average volume of 1.19 lakh shares in the past one quarter.

The stock hit a high of Rs 47.05 and a low of Rs 45.80 so far during the day. The stock hit a 52-week high of Rs 56.51 on 1 October 2014. The stock hit a 52-week low of Rs 27.20 on 12 June 2015.

The stock had outperformed the market over the past one month till 14 August 2015, rising 33.33% compared with 0.48% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.72% as against Sensex's 3.17% rise.

The small-cap company has an equity capital of Rs 58.45 crore. Face value per share is Rs 2.

On Friday, 14 August 2015, Bollywood star Amitabh Harivanshrai Bachchan bought 15 lakh shares of Nitin Fire Protection Industries at Rs 42.99 each, according to disclosures made under bulk deal on NSE (National Stock Exchange).

On a consolidated basis, net profit of Nitin Fire Protection Industries rose 10.48% to Rs 20.77 crore on 18.56% rise in net sales to Rs 337.90 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 14 August 2015.

Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.

Powered by Capital Market - Live News