VIP Industries jumps as Rakesh Jhunjhunwala hikes stake

VIP Industries galloped 9.47% to Rs 53.75 at 14:26 IST on BSE after Rakesh Jhunjhunwala hiked stake by 0.69% in the luggage maker.

Meanwhile, the BSE Sensex was up 44 points or 0.24% to 18,556.45

On BSE, 6.76 lakh shares were traded in the counter as against average daily volume of 86,323 shares over the past one quarter.

The stock hit a high of Rs 54.90 and a low of Rs 49.10 so far during the day. The stock had hit a 52-week low of Rs 38.85 on 6 August 2013. The stock had hit a 52-week high of Rs 97.65 on 4 October 2012.

The stock had outperformed the market over the past one month till 23 August 2013, falling 1.8% compared with the Sensex's 8.78% fall. The scrip, however, underperformed the market in past one quarter, falling 24.17% as against Sensex's 5.87% fall.

The small-cap luggage maker has equity capital of Rs 28.26 crore. Face value per share is Rs 2.

As per the disclosure on the BSE, Rakesh Jhunjhunwala bought 5.03 lakh shares of VIP Industries on 21 August 2013 and 4.68 lakh shares of the company on 22 August 2013. The company made the disclosure during trading hours today, 26 August 2013.

Rakesh Jhunjhunwala bought total 9.71 lakh shares or 0.69% stake in VIP Industries. Rakesh Jhunjhunwala held 6.49% stake in VIP Industries as at 30 June 2013.

VIP Industries reported 2.1% fall in net profit to Rs 23 crore on 8.1% rise in total income to Rs 327.50 crore in Q1 June 2013 over Q1 June 2012.

VIP Industries is a leading manufacturer of hard and soft luggage.

Powered by Capital Market - Live News