Shree Ganesh Jewellery jumps after allotting shares to promoters

The announcement was made during trading hours today, 1 April 2013.

Meanwhile, the BSE Sensex was up 30.02 points, or 0.16%, to 18,865.79.

On BSE, 19,000 shares were traded in the counter as against an average daily volume of 84,204 shares in the past one quarter.

The stock hit a high of Rs 97 and a low of Rs 91.25 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 record low of Rs 65.20 on 7 May 2012.

The stock had underperformed the market over the past one month till 28 March 2013, falling 13.13% compared with the Sensex's 0.14% fall. The scrip had also underperformed the market in past one quarter, sliding 22.39% as against Sensex's 3.13% fall.

Post allotment of shares to promoters, the paid up equity share capital of the company increased to Rs 64.82 crore, comprising of 6.48 crore equity shares of Rs 10 each.

The allotment price of Rs 150 is 55.84% premium to the ruling market price. It is 66.76% premium to the stock's previous closing price of Rs 89.95 on Thursday, 28 March 2013.

As on 31 December 2012, promoters held 70.66% stake in Shree Ganesh Jewellery House.

On a consolidated basis, Shree Ganesh Jewellery House's net profit rose 7.6% to Rs 102.62 crore on 0.2% increase in net sales to Rs 2858.07 crore in Q3 December 2012 over Q3 December 2011.

Shree Ganesh Jewellery House manufactures and exports handcrafted gold jewellery.

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