Seshasayee Paper and Boards scales record high after strong Q1 outcome

Seshasayee Paper and Boards was locked in 20% upper circuit filter at Rs 380.80 at 15:05 IST on BSE after net profit surged 347.5% to Rs 24.12 crore on 4.6% growth in total income to Rs 249.35 crore in Q1 June 2016 over Q1 June 2015.

The result was announced on Saturday, 23 July 2016.

Meanwhile, the S&P BSE Sensex was up 303.39 points or 1.09% at 28,106.63

On BSE, so far 691 shares were traded in the counter as against average daily volume of 1,440 shares in the past one quarter. The stock opened with an upward gap, surging by the maximum daily limit of 20% and remained locked at the 20% level at Rs 380.80 so far in the day, also its record high. The stock had hit a 52-week low of Rs 187.90 on 4 September 2015. The stock had outperformed the market over the past one month till 22 July 2016, rising 11.57% compared with Sensex's 3.88% rise. The scrip also outperformed the market in past one quarter, advancing 32.78% as against Sensex's 7.61% rise.

The small-cap company has equity capital of Rs 12.61 crore. Face value per share is Rs 10.

Seshasayee Paper and Boards operates an integrated pulp, paper and paper board Mill at Pallipalayam, Tamil Nadu.

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