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Pincon Spirit on a roll after entering into Assam

Capital Market 

Pincon Spirit rose 4.48% to Rs 65.30 at 11:30 on after the company said that it has entered into new geography in with its country segment.

The announcement was made during market hours today, 11 October 2017.

Meanwhile, the S&P Sensex was up 126.66 points or 0.4% at 32,051.07. The S&P Small-Cap index advanced 89.40 points or 0.53% at 16,981.90, outperforming the Sensex's gains.

On the BSE, 1.26 lakh shares were traded on the counter so far as against the average daily volumes of 1.35 lakh shares in the past one quarter. The stock had hit a high of Rs 68 and a low of Rs 64.20 so far during the day. The stock had hit a 52-week high of Rs 80.30 on 25 January 2017 and a 52-week low of Rs 42.15 on 22 August 2017.

The stock surged 32.58% in four sessions to its ruling price from a close of Rs 49.25 on 5 October 2017.

The stock had outperformed the market over the past one month till 10 October 2017, gaining 12.82% compared with the Sensex's 0.75% rise. The stock had, however, underperformed the market over the past one quarter, falling 13.01% as against the Sensex's 0.66% rise. The scrip had also underperformed the market over the past one year, dropping 17.27% as against the Sensex's 13.68% rise.

The small-cap company has equity capital of Rs 44.09 crore. Face value per share is Rs 10.

Pincon Spirit said that it has entered into new geography in with its country segment (IMIL). Bottling tie up has been made with Seven Sisters Trade & Distilleries, EPIP, Amingaon, Guwahati,

Initial roll out of products in the market has already commenced with commendable response, the company said.

Meanwhile, Purshottam Investofin sold 2.35 lakh shares of Pincon Spirit to Shreyans Logistics at Rs 62.50 per share in a bulk deal on the BSE on 10 October 2017.

Net profit of Pincon Spirit rose 30.6% to Rs 11.92 crore on 26.3% rise in net sales to Rs 390.62 crore in Q1 June 2017 over Q1 June 2016.

Pincon Spirit is a company. The company is engaged in carrying on the business of blending, bottling and wholesale distribution of Indian made Indian liquor (IMIL).

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

First Published: Wed, October 11 2017. 12:25 IST