Umang Dairies jumps after resuming operations at Gajraula plant

Umang Dairies rose 5.66% to Rs 86.75 at 11:19 IST on BSE after the company said it resumed operations at its plant in Uttar Pradesh.

The announcement was made after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 7.36 points, or 0.02% to 30,589.96.

On the BSE, 33,000 shares were traded in the counter so far, compared with average daily volumes of 42,280 shares in the past one quarter. The stock had hit a high of Rs 91.05 and a low of Rs 82.45 so far during the day. The stock hit a record high of Rs 101 on 27 October 2016. The stock hit a 52-week low of Rs 60.75 on 17 August 2016.

The stock had underperformed the market over the past one month till 16 May 2017, falling 2.49% compared with 3.97% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.85% as against Sensex's 8.62% rise.

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

Earlier on 28 April 2017, Umang Dairies had informed that it had temporarily shut down its plant in Gajraula, Uttar Pradesh to comply with the order of the National Green Tribunal (NGT).

NGT has now passed an order permitting the operations at the company's plant at Gajraula.

Umang Dairies reported net loss of Rs 0.18 crore in Q3 December 2016 compared with net profit of Rs 2.79 crore in Q3 December 2015. Net sales rose 9% to Rs 36.43 crore in Q3 December 2016 over Q3 December 2015.

Umang Dairies is a dairy product manufacturing company. It makes skimmed milk powder (SMP), whole milk powder, dairy creamers, dairy whiteners, tea & coffee premixes, pure ghee, fresh cream, and butter, etc.

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