Uniply Industries rose 2.48% to Rs 250.15 at 11:55 IST on BSE after the company announced the acquisition of Vector Projects (I) Pvt Ltd for Rs 64.12 crore.
The announcement was made after market hours yesterday, 31 August 2016.Meanwhile, the BSE Sensex was down 19.78 points, or 0.07%, to 28,432.39.
On BSE, so far 30,000 shares were traded in the counter, compared with average daily volume of 17,375 shares in the past one quarter. The stock hit a high of Rs 264.50 and a low of Rs 248 so far during the day. The stock hit a record high of Rs 275.40 yesterday, 31 August 2016. The stock hit a 52-week low of Rs 110 on 29 February 2016. The stock had outperformed the market over the past 30 days till 31 August 2016, rising 39.77% compared with 1.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 62.79% as against Sensex's 5.99% rise.
The small-cap company has equity capital of Rs 20.92 crore. Face value per share is Rs 10.
Vector Projects is one of India's largest end-to-end architectural design and interior fit out companies, having clocked over Rs 210 crore of revenue in the last financial year. Uniply said that the consideration for the acquisition will be paid out as Rs 23.13 crore in stock swap with shares of Uniply, and Rs 40.99 crore through cash payout that will be funded by the promoters of Uniply & other participants via a private placement. Vector will be a wholly-owned subsidiary of Uniply and the impact of this acquisition is effective from 1 April 2016.
Net profit of Uniply Industries rose 79.59% to Rs 1.76 crore on 51.93% rise in net sales to Rs 38.53 crore in Q1 June 2016 over Q1 June 2015.
Uniply Industries is engaged in the manufacture, marketing and trade of plywood, laminates and allied products in India.
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