V2 Retail spurts after announcing opening of operational store

V2 Retail spurted 17.46% to Rs 62.90 at 14:20 IST on BSE after the company launched one operational store at Gousala road, Pakri more Siwan, Bihar.

The announcement was made during market hours today, 16 May 2016.

Meanwhile, the S&P BSE Sensex was down 2.69 points or 0.01% at 25,486.41.

High volumes were witnessed on the counter. On BSE, so far 7.89 lakh shares were traded in the counter as against average daily volume of 26,490 shares over the past one quarter. The stock hit a high of Rs 64.25 and a low of Rs 53.60 so far during the day. The stock had hit a 52-week high of Rs 89.25 on 4 August 2015. The stock had hit a 52-week low of Rs 31.70 on 27 May 2015. The stock had outperformed the market over the past one month till 13 May 2016, gaining 1.71% compared with 0.54% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.64% as against Sensex's 10.89% gains.

The small-cap company has equity capital of Rs 24.89 crore. Face value per share is Rs 10.

V2 Retail said that including this store, 23 stores are operational of the company currently.

V2 Retail's net profit surged 87.8% to Rs 9.67 crore on 24% growth in net sales to Rs 98.14 crore in Q3 December 2015 over Q3 December 2014.

V2 Retail is one of fastest growing Retail Groups in India.

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