Styrolution ABS (India) advances on mutual fund buying

Styrolution ABS (India) surged 4.09% to Rs 613 at 11:43 IST on BSE after Reliance Mutual Fund bought 0.59% stake in the company on Monday, 27 October 2014.

Meanwhile, the BSE Sensex was up 48.50 points or 0.18% to 26,801.40

On BSE, so far 25,891 shares were traded in the counter. The scrip had an average daily volume of 5,392 shares in the past one quarter.

The stock hit a high of Rs 624.70 and low of Rs 603 so far during the day. The stock had hit a 52-week high of Rs 645 on 9 September 2014. The stock had hit a 52-week low of Rs 334.05 on 29 November 2013.

The small-cap scrip had underperformed the market over the past one month till 27 September 2014, falling 0.03% compared with 0.48% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 9.06% as against Sensex's 2.4% rise.

The company's current equity is Rs 17.59 crore. Face value per share is Rs 10.

Reliance Mutual Fund bought 1.05 lakh shares or 0.59% stake in Styrolution ABS (India) at Rs 590 per share in a bulk deal on NSE on Monday, 27 October 2014.

Styrolution ABS (India)'s net profit dropped 37.4% to Rs 5.22 crore on 38.4% growth in net sales to Rs 318.08 crore in Q2 September 2014 over Q2 September 2013.

Styrolution ABS (India)'s principal activity includes the development of market for the versatile engineering thermoplastic materials.

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