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Bhartiya International strengthens after bagging order

Capital Market 

gained 2.88% to Rs 617.95 at 10:35 on after the company said that it has received order to supply finished leather to Coach Inc.

The announcement was made before market hours today, 9 October 2017.

Meanwhile, the S&P Sensex was up 73.79 points, or 0.23% to 31,888.01. The S&P Small-Cap index was up 111.64 points, or 0.67% to 16,740.87.

On the BSE, 4,850 shares were traded in the counter so far, compared with average daily volumes of 20,918 shares in the past one quarter. The stock had hit a high of Rs 619.95 and a low of Rs 603 so far during the day. The stock had hit a record high of Rs 698.80 on 18 September 2017. The stock had hit a 52-week low of Rs 447.10 on 28 December 2016.

The stock had underperformed the market over the past one month till 6 October 2017, gaining 0.23% compared with the Sensex's 0.48% gains. The stock had also underperformed the market over the past one quarter, rising 0.68% as against the Sensex's 1.42% rise. The scrip had also underperformed the market over the past one year, gaining 5.38% as against the Sensex's 13.19% rise.

The small-cap company has equity capital of Rs 12.15 crore. Face value per share is Rs 10.

Bhartiya lnternational has started supplying finished leather to Coach lnc, an American multinational after the successful execution of trial orders for past few months. With this, the company has started exporting finished leather from tannery which was mainly being used for captive consumption.

Coach, lnc is a leading New York design house of modern luxury accessories and lifestyle collections for women and men.

Bhartiya lnternational's net profit rose 17% to Rs 3.85 crore on 7.3% rise in net sales to Rs 107.75 crore in Q1 June 2017 over Q1 June 2016.

Bhartiya lnternational (BlL) is one of the leading exporter & manufacturer of leather garments & accessories and has over 25 years of experience in this segment.

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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 09 2017. 10:54 IST