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Balaji Amines gains as board to consider amalgamation of subsidiaries

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rose 0.95% to Rs 312.70 at 11:45 on after the company scheduled a board meeting on 24 October 2016 to consider and evaluate the proposal of amalgamation of its subsidiaries with holding company.

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P Sensex was down 26.15 points or 0.09% at 27,647.45

On BSE, so far 2,941 shares were traded in the counter as against average daily volume of 8,791 shares in the past one quarter. The stock hit a high of Rs 314.95 and a low of Rs 311.05 so far during the day. The stock had hit a record high of Rs 329 on 19 September 2016. The stock had hit a 52-week low of Rs 115 on 12 December 2016. The stock had outperformed the market over the past 30 days till 14 October 2016, rising 6.94% compared with Sensex's 2.6% fall. The scrip had also outperformed the market in past one quarter, gaining 18.59% as against Sensex's 0.59% decline.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines' net profit surged 105.46% to Rs 26.34 crore on 4.73% growth in total income to Rs 167.90 crore in Q1 June 2016 over Q1 June 2015.

manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 17 2016. 11:46 IST