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Bhansali Engg hits record high after stellar Q1 earnings

Capital Market 

Bhansali Engineering Polymers jumped 8.63% to Rs 80.55 at 9:54 on after net profit spurted 110.7% to Rs 16.88 crore on 52.3% increase in net sales to Rs 224.03 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours on Friday, 14 July 2017.

Meanwhile, the S&P Sensex was up 90.93 points, or 0.28% at 32,111.68. The S&P Small-Cap index was up 4.45 points, or 0.03% at 15,912.46.

On the BSE, 15.34 lakh shares were traded on the counter so far as against the average daily volumes of 10.94 lakh shares in the past one quarter. The stock had hit a high of Rs 82.25 so far during the day, which is also its record high. The stock hit a low of Rs 76.25 so far during the day. The stock had hit a 52-week low of Rs 18.95 on 29 September 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 43.15% compared with the Sensex's 2.78% rise. The scrip had also outperformed the market over the past one quarter gaining 95.9% as against the Sensex's 8.69% rise. The scrip had also outperformed the market over the past one year advancing 227.37% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 16.59 crore. Face value per share is Rs 1.

Bhansali Engineering Polymers is a vertically integrated petrochemical company that manufactures acrylonitrile butadiene styrene (ABS) which acts as a raw material for leading companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other applications.

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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, July 17 2017. 09:55 IST