Umang Dairies jumps after launch of pouched liquid milk in Lucknow

Umang Dairies spurted 10.68% to Rs 36.80 at 9:46 IST on BSE after the company said it has launched its poly pouched liquid milk in Lucknow on 6 January 2014 under the brand name JK Milk.

The announcement was made after market hours on Wednesday, 8 January 2014.

Meanwhile, the S&P BSE Sensex was down 23.60 points or 0.11% at 20,705.78.

On BSE, so far 8,597 shares were traded in the counter as against average daily volume of 10,359 shares in the past one quarter.

The stock hit a high of Rs 38.30 and a low of Rs 34.40 so far during the day. The stock had hit a 52-week high of Rs 64.70 on 8 January 2013. The stock had hit a 52-week low of Rs 22.55 on 7 August 2013.

The stock had outperformed the market over the past one month till 8 January 2014, surging 10.1% compared with the Sensex's 1.27% fall. The scrip had also outperformed the market in past one quarter, spurting 15.85% as against the Sensex's 3.73% rise.

The small-cap company has equity capital of Rs 11 crore. Face value per share is Rs 5.

Umang Dairies said that in a bid to expand its product portfolio, the company has launched its poly pouched liquid milk in Lucknow on 6 January 2014 under the brand name JK Milk. In about 15 days JK Milk will be available in 2,000 retail outlets in Lucknow, the company said in a statement.

Umang Dairies reported net loss of Rs 0.50 crore in Q2 September 2013 as against net profit of Rs 2.59 crore in Q2 September 2012. Net sales rose 8.3% to Rs 27.10 crore in Q2 September 2013 over Q2 September 2012.

Umang Dairies is a dairy product manufacturing company and a member of JK Organization. It is the third largest seller of branded dairy creamers in consumer packs in India, after Amul and Nestle.

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