Saregama India spurts 23.6% in seven sessions

Saregama India was up 2.68% to Rs 515.25 at 9:50 IST on BSE, with the stock extending recent rally on sustained buying interest.

Meanwhile, the S&P BSE Sensex was up 98.14 points or 0.31% at 31,760.11. The S&P BSE Small-Cap index rose 126.93 points or 0.78% at 16,382.10.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 65,593 shares in the past one quarter. The stock had hit a high of Rs 518.10 so far during the day, which is a 52-week high. The stock hit a low of Rs 501.20 so far during the day. The stock had hit a 52-week low of Rs 181.90 on 22 November 2016.

The stock had outperformed the market over the past one month till 6 September 2017, advancing 22.61% compared with the Sensex's 2.05% fall. The stock had also outperformed the market over the past one quarter, gaining 120.91% as against the Sensex's 1.51% rise. The scrip had also outperformed the market over the past one year, advancing 100.32% as against the Sensex's 9.26% rise.

The small-cap company has equity capital of Rs 17.41 crore. Face value per share is Rs 10.

Shares of Saregama India have rallied 23.62% in seven trading sessions to its ruling market price, from its close of Rs 416.80 on 29 August 2017.

Saregama India's net profit rose 95.3% to Rs 3.30 crore on 28.4% growth in net sales to Rs 62.04 crore in Q1 June 2017 over Q1 June 2016.

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

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