Shaily Engineering Plastics advances after foreign fund buying

Shaily Engineering Plastics rose 3.95% to Rs 537.50 at 11:30 IST on BSE after DSP Blackrock Emerging Stars Fund bought 4.50 lakh shares of the company at Rs 500 per share in a bulk deal on the BSE yesterday, 8 March 2016.

Meanwhile, the S&P BSE Sensex was down 174.62 points or 0.71% at 24,484.61

On BSE, so far 5,034 shares were traded in the counter as against average daily volume of 15,029 shares in the past one quarter. The stock hit a high of Rs 542.90 and a low of Rs 530 so far during the day. The stock had hit a record high of Rs 704 on 11 January 2016. The stock had hit a 52-week low of Rs 285.50 on 27 April 2016. The stock had underperformed the market over the past one month till 8 March 2016, rising 0.21% compared with gains of 1.53% in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 2.98% as against Sensex's 2.57% fall.

The small-cap company has equity capital of Rs 8.32 crore. Face value per share is Rs 10.

In a bulk deal on the BSE yesterday, 8 March 2016, Haresh Babubhai Shah sold 1.15 lakh shares of Shaily Engineering Plastics, Shailesh Pritamlal Gadhia sold 1.44 lakh shares, Swati Sanjay Shah sold 1.49 lakh shares and Tushar Dineshchandra Shah sold 50,000 shares. These shares were sold at an average price of Rs 500 per share.

Haresh Babubhai Shah held 1.38% stake while Shailesh Pritamlal Gadhia held 1.79% stake and Swati Sanjay Shah held 2.91% stake in Shaily Engineering Plastics (as per the shareholding pattern as on 31 December 2015).

Shaily Engineering Plastics' net profit rose 49.4% to Rs 3.87 crore on 19% growth in net sales to Rs 54.45 crore in Q3 December 2015 over Q3 December 2014.

Shaily Engineering Plastics is engaged in the business of manufacturing of plastic products.

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