PMC Fincorp jumps on bargain hunting

PMC Fincorp hit an upper circuit limit of 5% at Rs 54.20 at 15:10 IST on BSE on bargain hunting after the stock slumped 46.53% in the preceding twelve trading sessions to Rs 51.65 on 13 January 2015, from a recent low of Rs 96.60 on 26 December 2014.

Meanwhile, the BSE Sensex was down 138.97 points, or 0.51%, to 27,286.76.

On BSE, so far 1.15 lakh shares were traded in the counter, compared with an average volume of 97,749 shares in the past one quarter.

The stock hit a low of Rs 49.10 in early trade. The stock hit a record high of Rs 244.70 on 27 October 2014. The stock hit a 52-week low of Rs 48.76 on 14 January 2014.

The stock had underperformed the market over the past one month till 13 January 2015, falling 70.55% compared with 0.27% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 67.87% as against Sensex's 3.95% rise.

The small-cap company has an equity capital of Rs 24.33 crore. Face value per share is Re 1.

Net profit of PMC Fincorp surged 22500% to Rs 2.26 crore on 35% rise in operating income to Rs 4.51 crore in Q2 September 2014 over Q2 September 2013.

PMC Fincorp is registered with Reserve Bank of India (RBI) as a non banking financial company (NBFC) and is engaged in activities like corporate and personal finance, debt syndication, private placement, arranger, distribution & marketing of financial products and dealing & investment in stock market.

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