 "Balmer Lawrie & Company hits 52-week high on 3:1 bonus issue")
Balmer Lawrie & Company hit a 52-week high of Rs 888, up 13% on BSE in intra-day trade, after the company said that the board has recommended issuance of bonus shares in the ratio of 3:1 i.e. 3 new equity bonus shares for every 1 existing equity share held in the company.
The company has reported a single digit 7.7% year on year (YoY) growth in net profit at Rs 28 crore for the quarter ended September 30, 2016 (Q2FY17). Total income from operations grew 6.5% at Rs 428 crore on YoY basis.
The stock erases its early morning gain and was trading 5% higher at Rs 826 on the BSE at 10:02 am, against 1.4% decline in the S&P BSE Sensex. A combined 130,592 shares changed hands on the counter on BSE and NSE.
The company has reported a single digit 7.7% year on year (YoY) growth in net profit at Rs 28 crore for the quarter ended September 30, 2016 (Q2FY17). Total income from operations grew 6.5% at Rs 428 crore on YoY basis.
The stock erases its early morning gain and was trading 5% higher at Rs 826 on the BSE at 10:02 am, against 1.4% decline in the S&P BSE Sensex. A combined 130,592 shares changed hands on the counter on BSE and NSE.