Bombay Dyeing spurts on bargain hunting

Bombay Dyeing & Manufacturing Company jumped 15.75% to Rs 222 at 14:25 IST on BSE, with the stock reversing recent slide on bargain hunting.

Meanwhile, the S&P BSE Sensex was down 370.20 points, or 1.06% to 34,696.55. The S&P BSE Mid-Cap index was down 72.18 points, or 0.44% to 16,502.52.

On the BSE, 19.76 lakh shares were traded in the counter so far, compared with average daily volumes of 8.56 lakh shares in the past one quarter. The stock had hit a high of Rs 230.15 and a low of Rs 176.50 so far during the day. The stock hit a record high of Rs 304.20 on 8 January 2018. The stock hit a 52-week low of Rs 54 on 20 February 2017.

 

The stock had underperformed the market over the past 30 days till 2 February 2018, sliding 31.13% compared with 3.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.46% as against Sensex's 4.1% rise. The scrip, however, outperformed the market in past one year, surging 227.02% as against Sensex's 24.17% rise.

The mid-cap company has equity capital of Rs 41.31 crore. Face value per share is Rs 2.

Shares of Bombay Dyeing & Manufacturing Company had dropped 19.69% in four trading sessions to settle at Rs 191.80 on 2 February 2018, from its close of Rs 238.85 on 29 January 2018.

Bombay Dyeing & Manufacturing Company reported net profit of Rs 52.79 crore in Q2 September 2017, compared with net loss of Rs 36.56 crore in Q2 September 2016. Net sales rose 42.78% to Rs 692.20 crore in Q2 September 2017 over Q2 September 2016.

Bombay Dyeing & Manufacturing Company is engaged in textile, polyester and real estate business segments.

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