Sandesh gains after acquiring shares of Sandesh Digital

Sandesh rose 1.19% to Rs 659.75 at 14:55 IST on BSE after the company proposed to acquire the shares of Sandesh Digital.

The announcement was made during market hours today, 21 September 2015.

Meanwhile, the BSE Sensex was down 60.37 points, or 0.23%, to 26,158.54.

On BSE, so far 573 shares were traded in the counter, compared with an average volume of 1,696 shares in the past one quarter.

The stock hit a high of Rs 671 and a low of Rs 644 so far during the day. The stock hit a record high of Rs 811 on 19 August 2015. The stock hit a 52-week low of Rs 353 on 26 September 2014.

The stock had underperformed the market over the past one month till 18 September 2015, dropping 14.74% compared with 5.79% fall in the Sensex. The scrip had however outperformed the market in past one quarter, gaining 17.42% as against Sensex's 3.31% decline.

The small-cap company has an equity capital of Rs 7.57 crore. Face value per share is Rs 10.

Sandesh said as a result of acquisition of shares of Sandesh Digital, the firm will become a wholly owned subsidiary of Sandesh.

Sandesh's net profit rose 52.7% to Rs 20.35 crore on 10.1% rise in total income to Rs 92.93 crore in Q1 June 2015 over Q1 June 2014.

Sandesh is engaged in the editing, printing and publishing newspapers and periodicals.

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