Kamdhenu rose 4.12% to Rs 113.60 at 11:15 IST on BSE after net profit rose 31.26% to Rs 3.01 crore on 22.82% rise in net total revenue to Rs 242.41 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 30 May 2017. The stock had dropped 3.32% to Rs 109.10 yesterday, 30 May 2017, ahead of Q4 results.Meanwhile, the S&P BSE Sensex was down 1.34 points, or 0.01% at 31,158.05. The S&P BSE Small-cap index was up 142.44 points, 0.95% at 15,066.48.
On the BSE, 5,726 shares were traded on the counter so far as against the average daily volumes of 14,747 shares in the past one quarter. The stock had hit a high of Rs 120 in intraday trade, which is also a record high. The stock had hit a low of Rs 113 so far during the day. The stock had hit a 52-week low of Rs 50.10 on 24 June 2016.
The stock had outperformed the market over the past one month till 30 May 2017, gaining 17.25% compared with 4.15% gains in the Sensex. The scrip had outperformed the market in past one quarter, gaining 20.49% as against Sensex's 8.41% gains. The scrip had also outperformed the market in past one year, jumping 101.11% as against Sensex's 16.59% gains.
Kamdhenu's board of directors recommended dividend of Re. 0.80 per share for the year ended 31 March 2017 (FY 2017).
Good increase in sales of all three segments, namely, power, steel and paints resulted in good sales and profitability in Q4.
Kamdhenu, formerly Kamdhenu Ispat, is engaged in manufacturing, distribution, marketing, branding of steel and paints across India. The company manufactures thermo-mechanically treated (TMT) steel. Its segments include steel, paints and power (wind mills).
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