Parag Milk Foods drops as India Opportunities Growth Fund offloads shares

Parag Milk Foods lost 3.75% to Rs 304 at 14:51 IST on BSE after India Opportunities Growth Fund -Pinewood Strategy sold 15 lakh shares of the company at an average price of Rs 312.87 per share in a bulk deal on NSE yesterday, 22 September 2016.

Meanwhile, the S&P BSE Sensex was down 68.72 points, or 0.24%, to 28,704.41

On BSE, so far 1.32 lakh shares were traded in the counter, compared with average daily volume of 81,700 shares in the past one quarter. The stock hit a high of Rs 316.60 and a low of Rs 303.20 so far during the day. The stock hit a record high of Rs 356.70 on 13 July 2016. The stock hit a record low of Rs 202.10 on 13 July 2016. The stock had underperformed the market over the past 30 days till 22 September 2016, rising 0.16% compared with 2.54% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 21.76% as against Sensex's 9% rise.

 

The small-cap company has an equity capital of Rs 84.11 crore. Face value per share is Rs 10.

India Opportunities Growth Fund - Pinewood Strategy owned 18.58 lakh shares or 2.2% stake in Parag Milk Foods as at end 30 June 2016.

Parag Milk Foods' consolidated net profit rose 53.91% to Rs 10.82 crore on 2.59% rise in net sales to Rs 383.47 crore in Q1 June 2016 over Q1 June 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

Powered by Capital Market - Live News