Spice Mobility spurts ahead of board meeting to consider voluntary delisting

Spice Mobility surged 6.56% to Rs 33.30 at 11:59 IST on BSE ahead of board meeting today, 2 January 2015, to consider voluntary delisting of shares of the company.

Meanwhile, the S&P BSE Sensex was up 332.60 points or 1.21% at 27,840.14.

On BSE, so far 66,000 shares were traded in the counter as against average daily volume of 14,551 shares in the past one quarter.

The stock hit a high of Rs 34.30 and a low of Rs 32 so far during the day. The stock had hit a 52-week high of Rs 43 on 11 June 2014. The stock had hit a 52-week low of Rs 20 on 22 December 2014.

The stock had outperformed the market over the past one month till 1 January 2015, jumping 26.26% compared with the Sensex's 3.68% fall. The scrip had also outperformed the market in past one quarter, surging 4.17% as against Sensex's 3.54% rise.

The small-cap company has equity capital of Rs 68.36 crore. Face value per share is Rs 3.

Spice Mobility had on 29 December 2014 said that its board of directors will meet today, 2 January 2015, inter alia, to consider the proposal received from Smart Ventures, the promoter of the company, to voluntarily delist the equity shares of the company from the National Stock Exchange of India and BSE.

Spice Mobility reported consolidated net loss of Rs 13.32 crore in Q1 September 2014 compared with consolidated net profit of Rs 8.12 crore in Q1 September 2013. Total income rose 2% to Rs 548.61 crore in Q1 September 2014 over Q1 September 2013.

Spice Mobility is engaged in manufacturing of mobile phones.

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