Saregama India gains after bulk purchase of shares by Reliance Capital

Saregama India rose 2.17% to Rs 372.30 at 11:34 IST on BSE after Reliance Capital purchased a total of 11.88 lakh shares of the company in bulk deals on the BSE and NSE yesterday, 28 December 2015.

Meanwhile, the S&P BSE Sensex was up 43.44 points or 0.17% at 26,077.57.

On BSE, so far 75,000 shares were traded in the counter as against average daily volume of 31,053 shares in the past one quarter.

The stock hit a high of Rs 388.10 and a low of Rs 367 so far during the day. The stock had hit a 52-week high of Rs 509 on 10 August 2015. The stock had hit a 52-week low of Rs 116 on 27 March 2015.

The stock had outperformed the market over the past one month till 28 December 2015, rising 1.14% compared with Sensex's 0.36% fall. The scrip had also outperformed the market in past one quarter, advancing 8.19% as against Sensex's 1.63% rise.

The small-cap company has equity capital of Rs 17.40 crore. Face value per share is Rs 10.

Reliance Capital bought 4.23 lakh shares at Rs 362.37 a piece in a bulk deal on the NSE. It bought 7.65 lakh shares at Rs 364 a piece in a bulk deal on the BSE. Payone Enterprises sold 4.64 lakh shares of Saregama India at Rs 363.05 per share in a bulk deal on the NSE. Payone Enterprises sold 7.99 lakh shares of the company at Rs 364.23 per share in a bulk deal on the BSE.

Saregama India's net profit rose 24.5% to Rs 2.59 crore on 35.5% growth in net sales to Rs 55.75 crore in Q2 September 2015 over Q2 September 2014.

Saregama India is engaged in the digital distribution of its music catalogue across various languages and genres.

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