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Kitex Garments jumps on bonus issue plan

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rose 5.71% to Rs 452 at 9:48 on after the company said its board will consider bonus issue of on Friday, 28 April 2017.

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P Sensex was up 38.26 points, or 0.13% to 29,374.83.

On the BSE, 8,806 were traded in the counter so far, compared with average daily volumes of 16,640 in the past one quarter. The stock had hit a high of Rs 468.65 and a low of Rs 444.80 so far during the day. The stock hit a 52-week high of Rs 543.20 on 4 July 2016. The stock hit a 52-week low of Rs 354 on 22 November 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 1.59% compared with 0.50% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.05% as against Sensex's 7.43% rise.

The small-cap company has equity capital of Rs 4.75 crore. Face value per share is Re 1.

A meeting of the board of directors of is scheduled be held on Friday, 28 April 2017, to consider a proposal for issue of bonus shares. The board will also consider audited financial results of the company for the year ended 31 March 2017.

Kitex Garments' net profit rose 31.9% to Rs 31.75 crore on 15.9% growth in net sales to Rs 127.47 crore in Q3 December 2016 over Q3 December 2015.

is a producer of children's apparel.

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

First Published: Thu, April 20 2017. 09:38 IST