Sanghi Industries gains after bulk deal

Sanghi Industries rose 3.4% to Rs 95.85 at 14:21 IST on BSE after a bulk deal of 9.33 lakh shares was executed on the scrip at Rs 91.50 per share at 10:41 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 387.74 points, or 1.2%, to 31,982.26

On BSE, so far 16.59 lakh shares were traded in the counter, compared with an average volume of 1.39 lakh shares in the past one quarter. The stock hit a high of Rs 98.90 and a low of Rs 89.15 so far during the day. The stock hit a 52-week high of Rs 99.40 on 18 July 2017. The stock hit a 52-week low of Rs 46.20 on 26 December 2016.

The stock had outperformed the market over the past one month till 21 September 2017, gaining 13.05% compared with the 3.55% gains in the Sensex. The scrip also outperformed the market in past one quarter, advancing 12.98% as against Sensex's 3.47% gains. The stock had also outperformed the market over the past one year, surging 24.1% compared with the 13.55% gains in the Sensex.

The small-cap company has an equity capital of Rs 219.98 crore. Face value per share is Rs 10.

Net profit of Sanghi Industries rose 33.05% to Rs 31.60 crore on 6.22% rise in net sales to Rs 287.54 crore in Q1 June 2017 over Q1 June 2016.

Sanghi Industries is the flagship company of The Ravi Sanghi Group dealing in the production and distribution of cement under the brand name "Sanghi Cement". The company produces cement at one of the world's largest single stream cement plant located at Kutch in Gujarat.

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