Shree Ganesh Jewellery gains on preferential share issue plan

The company made the announcement after market hours on Tuesday, 25 June 2013.

Meanwhile, the S&P BSE Sensex was down 35.14 points, or 0.19%, to 18,664.29.

On BSE, 15,000 shares were traded in the counter as against an average daily volume of 22,999 shares in the past one quarter.

The stock hit a high of Rs 80 and a low of Rs 76.90 so far during the day. The stock had hit a 52-week high of Rs 139.50 on 9 January 2013. The stock had hit a 52-week low of Rs 70.50 on 25 June 2013.

The stock had underperformed the market over the past one month till 25 June 2013, sliding 29.56% compared with the Sensex's 5.46% fall. The scrip had also underperformed the market in past one quarter, falling 16.27% as against Sensex's 0.28% fall.

The small-cap company has an equity capital of Rs 70.63 crore. Face value per share is Rs 10.

Shree Ganesh Jewellery House said the board will consider issuing equity shares on preferential basis to non-promoters/foreign investors. The proposal is subject to approval of shareholders, the company added.

On a consolidated basis, Shree Ganesh Jewellery House's net profit fell 11.5% to Rs 171.86 crore on 76.1% increase in net sales to Rs 3708.78 crore in Q4 March 2013 over Q4 March 2012.

Shree Ganesh Jewellery House manufactures and exports handcrafted gold jewellery.

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