Savita Oil Technologies firms up on buyback plan

Savita Oil Technologies rose 4.43% to Rs 1,640 at 11:21 IST on BSE after the company said that its board will meet on 23 January 2018 to consider buyback of equity shares.

The announcement was made after market hours yesterday, 18 January 2018.

Meanwhile, the S&P BSE Sensex was up 135.93 points, or 0.39% to 35,396.22.

On the BSE, 3,342 shares were traded in the counter so far, compared with average daily volumes of 1,598 shares in the past one quarter. The stock had hit a high of Rs 1,700 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 1,625 so far during the day. The stock hit a 52-week low of Rs 746.05 on 20 January 2017.

The stock had outperformed the market over the past 30 days till 18 January 2018, rising 12.90% compared with 4.39% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.24% as against Sensex's 8.86% rise. The scrip had also outperformed the market in past one year, rising 104.99% as against Sensex's 29.12% rise.

The small-cap company has equity capital of Rs 14.60 crore. Face value per share is Rs 10.

Net profit of Savita Oil Technologies rose 15.10% to Rs 27.37 crore on 23.44% rise in net sales to Rs 439.25 crore in Q2 September 2017 over Q2 September 2016.

Savita Oil Technologies is carbon-positive petroleum specialty company. Its business segments include petroleum products and wind power. Its businesses include transformer oil, white oils and liquid paraffins, lubricating oils, petrolatum and petroleum jellies, oxidized waxes and wax emulsions, cable filling compounds and optic fiber compounds, waterless engine coolant and renewable energy.

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