Aries Agro jumped 5.48% to Rs 87.60 at 15:20 IST on BSE after the firm said it has on Wednesday commissioned its first captive solar power generation unit with a capacity of 100 KW at its second largest manufacturing facility in Hyderabad.
The announcement was made after market hours on Wednesday, 20 August 2014.
Meanwhile, the S&P BSE Sensex was up 52.55 points or 0.2% at 26,366.84.
On BSE, so far 35,000 shares were traded in the counter as against average daily volume of 39,337 shares in the past one quarter.
The stock hit a high of Rs 89 and a low of Rs 85.25 so far during the day. The stock had hit a 52-week high of Rs 99.50 on 7 July 2014. The stock had hit a 52-week low of Rs 34.50 on 12 November 2013.
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The stock had underperformed the market over the past one month till 20 August 2014, sliding 7.82% compared with Sensex's 2.62% rise. The scrip had, however, outperformed the market in past one quarter, jumping 31.41% as against Sensex's 7.95% rise.
The company has equity capital of Rs 13 crore. Face value per share is Rs 10.
Aries Agro said that the captive solar power generation unit set up at a project cost of Rs 80.51 lakh will streamline the availability of power for manufacturing operations. The project was considered essential to reduce the dependence on fossil fuels and erratic grid power supply in Telangana and is expected to also result in an appreciable savings in power and fuel expenses, Aries Agro said.
Aries Agro's consolidated net profit declined 46.2% to Rs 2.77 crore on 7.2% growth in net sales to Rs 51.25 crore in Q1 June 2014 over Q1 June 2013.
Aries Agro is in the business of manufacturing of micronutrients and other customized nutritional products for plants and animals.
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