Radico Khaitan jumps after Morgan Stanley buys stake

Radico Khaitan jumped 4.47% to Rs 167 at 11:56 IST on BSE after Morgan Stanley Asia Singapore acquired 20.46 lakh shares, or 1.54% equity, of the company from the BSE and the NSE on Wednesday, 22 January 2014.

Meanwhile, the BSE Sensex was down 16.81 points, or 0.08%, to 21,320.86.

On BSE, so far 16.65 lakh shares were traded in the counter, compared with an average volume of 1.55 lakh shares in the past one quarter.

The stock hit a high of Rs 167.80 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 160 so far during the day. The stock hit a 52-week low of Rs 88.65 on 24 July 2013.

The stock had outperformed the market over the past one month till 22 January 2014, rising 15.04% compared with the Sensex's 1.22% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.47% as against Sensex's 2.27% rise.

The small-cap company has an equity capital of Rs 26.60 crore. Face value per share is Rs 2.

On Wednesday, 22 January 2014, Morgan Stanley Asia Singapore PTE bought 9.80 lakh shares of Radico Khaitan at Rs 159.84 on the BSE and 10.65 lakh shares at Rs 159.50 on the NSE.

Net profit of Radico Khaitan declined 21.49% to Rs 17.32 crore on 18.59% rise in net sales to Rs 341.65 crore in Q2 September 2013 over Q2 September 2012.

Radico Khaitan is one of India's oldest liquor manufacturers.

Powered by Capital Market - Live News