Shoppers Stop gains after opening of MAC store

Shoppers Stop rose 1.44% to Rs 298.60 at 13:51 IST on BSE after the company informed that it has opened one MAC door at Inorbit Mall, Malad, Mumbai.

The announcement was made during market hours today, 22 November 2016.

Meanwhile, the S&P BSE Sensex was up 64.18 points or 0.25% at 25,829.32

Meanwhile, a bulk deal of 3 lakh shares was executed on the counter at Rs 295 per share at 09:51 IST on BSE. Bulk deal boosted volume on the Shoppers Stop scrip. On BSE, so far 3.42 lakh shares were traded in the counter as against average daily volume of 933 shares in the past one quarter. The stock hit a high of Rs 301 and a low of Rs 292 so far during the day. The stock hit a 52-week high of Rs 422 on 23 December 2015. The stock hit a 52-week low of Rs 290.15 on 21 November 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 19.59% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 19.54% as against Sensex's 7.95% decline.

The small-cap company has an equity capital of Rs 41.75 crore. Face value per share is Rs 5.

With the opening of the latest store, the company has now 41 MAC doors under its operations, Shoppers Stop said. MAC stands for Make-up Art Cosmetics. MAC is a leading brand of professional cosmetics, created in Toronto, Canada in 1984 to support the special needs of professional makeup artists - a collection of colors, products and tools that meet the demanding lighting and studio conditions under which the pros work.

Shoppers Stop's net profit fell 11.06% to Rs 10.69 crore on 7.14% growth in net sales to Rs 939.53 crore in Q2 September 2016 over Q2 September 2015.

Shoppers Stop runs department stores that sell apparel, cosmetics and fashion accessories.

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