OM Metals gallops after sale of cineplex division

OM Metals Infraprojects surged 13.11% to Rs 59.55 at 10:51 IST on BSE after the company announced sale of its cineplex division for Rs 18 crore.

The announcement was made after market hours yesterday, 5 July 2017.

Meanwhile, the S&P BSE Sensex was up 158.16 points or 0.51% at 31,403.72.

On the BSE, 1.16 lakh shares were traded in the counter so far as against average daily volume of 26,625 shares in the past one quarter. The stock hit a high of Rs 60.10 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 53.15 so far during the day. The stock had hit a 52-week low of Rs 38.30 on 22 March 2017.

The small-cap company has equity capital of Rs 9.63 crore. Face value per share is Re 1.

OM Metals Infraprojects said it has on 4 July 2017 sold its cineplex division, Om Cineplex Commercial Complex, for Rs 18 crore to Princess Infra and Development.

OM Metals Infraprojects' net profit fell 81.47% to Rs 1.31 crore on 5.56% fall in net sales to Rs 66.20 crore in Q4 March 2017 over Q4 March 2016.

OM Metals Infraprojects has diverse business activities and interests related to hydro mechanical equipments, turn key solutions for steel fabrication, hydro power developments, real estate, entertainment centers and hotels.

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