Pricol slips on profit booking after bulk purchase of shares by UTI MF

Pricol lost 2.79% to Rs 116.55 at 12:31 IST on BSE, with the stock sliding on profit booking after UTI Mutual Fund bought bulk shares of the company via bulk deal on the NSE on Friday, 9 September 2016.

Meanwhile, the S&P BSE Sensex was down 393.60 points or 1.37% at 28,403.65.

On BSE, so far 2.11 lakh shares were traded in the counter as against average daily volume of 4.17 lakh shares in the past one quarter. The stock hit a high of Rs 119.90 and a low of Rs 116.10 so far during the day. The stock had hit a record high of Rs 124.40 on Friday, 9 September 2016. The stock had hit a 52-week low of Rs 28.85 on 15 September 2015. The stock had outperformed the market over the past one month till 9 September 2016, gaining 2.57% compared with Sensex's 2.54% gain. The scrip had also outperformed the market in past one quarter, advancing 55.21% as against Sensex's 7.6% gain.

The small-cap company has equity capital of Rs 9.48 crore. Face value per share is Rs 1.

Shares of Pricol had surged 7.58% in two trading sessions to settle at Rs 119.90 on Friday, 9 September 2016, from its close of Rs 111.45 on 7 September 2016.

PHI Capital Trust sold 14 lakh shares of Pricol at an average price of Rs 120.14 per share in a bulk deal on the NSE on Friday, 9 September 2016. UTI Mutual Fund A/C UTI-Mid Cap Fund bought 12.69 lakh shares at Rs 120 per share in this deal.

Pricol's net profit spurted 1252.4% to Rs 22.18 crore on 41.1% growth in net sales to Rs 306.75 crore in Q1 June 2016 over Q1 June 2015.

Pricol manufactures automotive components for the global automotive market. It caters to two, three, four-wheelers, commercial vehicles, tractors and construction and industrial tooling segments across the global market.

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