Parag Milk Foods advances after action from foreign funds

Parag Milk Foods was up 2.2% to Rs 265 at 10:06 IST on BSE after the company witnessed action from foreign funds via bulk deals on the BSE yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 96.67 points or 0.37% at 26,310.11.

On the BSE, 7,121 shares were traded on the counter so far as against the average daily volumes of 74,132 shares in the past one quarter. The stock had hit a high of Rs 267 and a low of Rs 261.20 so far during the day.

The stock had hit a record high of Rs 356.70 on 13 July 2016 and a record low of Rs 202.10 on 24 May 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 3.71% compared with the Sensex's 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.66% as against the Sensex's 7.12% fall.

The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.

Macquarie Emerging Markets Asian Trading Pte sold 19.83 lakh shares of the company at Rs 253.85 per share to New Horizon Opportunities Master Fund. Copthall Mauritius Investment offloaded 4.96 lakh shares at Rs 253 a piece to New Horizon Opportunities Master Fund.

Copthall Mauritius Investment held 1.83% and Macquarie Emerging Markets Asian Trading Pte owned 2.87% in Parag Milk Foods end September 2016.

On a consolidated basis, Parag Milk Foods' net profit rose 47.7% to Rs 14.33 crore on 0.7% growth in net sales to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

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