VIP Industries recovers after 3-day 7.3% slide

VIP Industries rose 1.82% to Rs 67 at 15:15 IST on BSE, with the stock recovering on bargain hunting after 3-day 7.38% slide.

Meanwhile, the S&P BSE Sensex was up 43.92 points or 0.21% at 20,757.29.

On BSE, so far 6.14 lakh shares were traded in the counter as against average daily volume of 3.54 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 5.92% at the day's high of Rs 69.70 so far during the day. The stock lost as much as 2.12% at the day's low of Rs 64.40 so far during the day. The stock had hit a 52-week high of Rs 87.40 on 18 January 2013. The stock had hit a 52-week low of Rs 38.85 on 6 August 2013.

The stock had outperformed the market over the past one month till 9 January 2014, surging 12.38% compared with the Sensex's 2.87% fall. The scrip had also outperformed the market in past one quarter, advancing 25.57% as against Sensex's 2.29% rise.

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

Shares of VIP Industries had declined 7.38% in three trading sessions to settle at Rs 65.80 on Thursday, 9 January 2014 from a recent high of Rs 71.05 on 6 January 2014.

VIP Industries reported a net profit of Rs 4.30 crore in Q2 September 2013 as against net loss of Rs 1.80 crore in Q2 September 2012. Net sales rose 28.2% to Rs 197.20 crore in Q2 September 2013 over Q2 September 2012.

VIP Industries is Asia's No. 1 luggage manufacturer. Its four factories produce nearly five million pieces a year, making it the second largest producer of luggage in the world.

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