Sudarshan Chemical hits record high on buying by foreign fund

Sudarshan Chemical Industries was up 3.1% at Rs 320 at 14:26 IST on BSE after bulk deals data on NSE showed that foreign fund Morgan Stanley Asia (Singapore) Pte mopped up additional 3.64 lakh shares of the company yesterday, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 98.35 points or 0.35% at 28,122.68.

On BSE, so far 2.67 lakh shares were traded in the counter, compared with an average daily volume of 1.41 lakh shares in the past one quarter. The stock hit a high of Rs 331.85 so far during the trading session, which is a record high for the counter. The stock hit a low of Rs 310.50 so far during the day. The stock hit a 52-week low of Rs 78 on 12 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, surging 60.26% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 188.6% as against Sensex's 7.52% rise.

The small cap company has equity capital of Rs 13.85 crore. Face value per share is Rs 2.

Morgan Stanley Asia (Singapore) Pte mopped up additional 3.64 lakh shares of Sudarshan Chemical Industries at an average price of Rs 302.50 per share via a bulk deal on NSE yesterday, 27 July 2016. The same foreign fund had bought 3.55 lakh shares of the company at an average price of Rs 288.53 per share via bulk deal on NSE on 25 July 2016.

Sudarshan Chemical Industries' net profit jumped 514% to Rs 21.92 crore on 16.3% growth in net sales to Rs 313.71 crore in Q4 March 2016 over Q4 March 2015.

Sudarshan Chemical Industries is one of the leading manufacturers of color & effect pigments in India. Its products primarily serve the coatings, plastics, inks and cosmetics markets.

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