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Jayant Agro-Organics spurts after board recommends bonus issue

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Jayant Agro-Organics rose 4.68% to Rs 1,007.95 at 15:13 on after the company said its board recommended issuing bonus in 1:1 ratio.

The announcement was made during trading hours today, 16 June 2017.

Meanwhile, the S&P Sensex was down 33.80 points, or 0.11% to 31,041.93.

On the BSE, 64,000 were traded in the counter so far, compared with average daily volumes of 11,912 in the past one quarter. The stock had hit a high of Rs 1,038 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 980 so far during the day. The stock hit a 52-week low of Rs 203.50 on 16 June 2016.

The stock had underperformed the market over the past one month till 15 June 2017, falling 0.79% compared with 1.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 50.09% as against Sensex's 4.81% rise. The scrip had also outperformed the market in past one year, rising 369.68% as against Sensex's 17.15% rise.

The small-cap company has equity capital of Rs 7.50 crore. Face value per share is Rs 5.

Jayant Agro-Organics said the recommendation to issue bonus shares is subject to the approval of shareholders of the company at the annual general meeting.

Further, the board also recommended raising upto Rs 250 crore through issue of securities on private placement basis.

Jayant Agro-Organics' consolidated net profit surged 94.88% to Rs 15.59 crore on 12.71% growth in net sales to Rs 420.56 crore in Q4 March 2017 over Q4 March 2016.

Jayant Agro-Organics is an emerging global oleochemical company with leadership in the castor-based specialty chemicals industry.

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

First Published: Fri, June 16 2017. 15:15 IST