Trident gains as shareholders to consider amalgamation of Trident Corp

Trident rose 2.76% to Rs 16.75 at 10:47 IST on BSE after the company said that the court convened meeting of its shareholders is scheduled to be held on 25 January 2014 in the matter of proposed amalgamation of Trident Corporation with the company.

The announcement was made after market hours on Tuesday, 24 December 2013.

Meanwhile, the S&P BSE Sensex was up 55.32 points or 0.26% at 21,088.03.

On BSE, so far 66,000 shares were traded in the counter as against average daily volume of 1.06 lakh shares over the past one quarter.

The stock hit a high of Rs 16.80 and a low of Rs 16.25 so far during the day. The stock had hit a 52-week high of Rs 19.50 on 29 November 2013. The stock had hit a 52-week low of Rs 6.08 on 1 August 2013.

The stock had outperformed the market over the past one month till 24 December 2013, surging 20.38% compared with the Sensex's 4.03% rise. The scrip had also outperformed the market in past one quarter, galloping 82.94 % as against Sensex's 5.58% rise.

The small-cap company has equity capital of Rs 310.84 crore. Face value per share is Rs 10.

Trident's net profit galloped 5016.9% to Rs 72.66 crore on 21.6% growth in net sales to Rs 999.56 crore in Q2 September 2013 over Q2 September 2012.

Trident is the flagship company of Trident Group with its array of customers spread across 75 countries. Trident is a leading manufacturer of terry towels, paper, yarn and chemicals.

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