SRS spurts after board's nod for 1:1 bonus

SRS was locked at 20% upper circuit at Rs 24.90 at 15:22 IST on BSE after the company said that its board of directors at its meeting held today, 11 May 2015, declared 1:1 bonus issue to the existing shareholders.

The announcement was made during market hours today, 11 May 2015.

Meanwhile, the S&P BSE Sensex was up 397.82 points or 1.47% at 27,503.21.

On BSE, so far 2.44 lakh shares were traded in the counter as against average daily volume of 77,197 shares in the past one quarter.

The stock hit a low of Rs 20.50 so far during the day. The stock had hit a 52-week high of Rs 35.50 on 23 May 2014. The stock had hit a record low of Rs 18.75 on 26 March 2015.

The stock had underperformed the market over the past one month till 8 May 2015, sliding 15.13% compared with Sensex's 5.58% fall. The scrip had also underperformed the market in past one quarter, declining 17.66% as against Sensex's 5.62% fall.

The small-cap company has equity capital of Rs 139.29 crore. Face value per share is Rs 10.

SRS' net profit rose 23.8% to Rs 5.52 crore on 5.5% growth in net sales to Rs 870.24 crore in Q3 December 2014 over Q3 December 2013.

SRS is a diversified company having a presence in cinema exhibition, hotels, jewellery, retail and FMCG (cash & carry) businesses.

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