Kwality advanced 4.13% to Rs 88.20 at 13:41 IST on BSE after the company said its board at a meeting held today, 19 February 2018, approved conversion of convertible warrants.
The announcement was made during market hours today, 19 February 2018.Meanwhile, the S&P BSE Sensex was down 409.17 points or 1.2% at 33,601.59. The S&P BSE Small-Cap index tumbled 1.75%, underperforming the Sensex.
On the BSE, 5.65 lakh shares were traded on the counter so far as against average daily volumes of 3.01 lakh shares in the past one quarter. The stock had hit a high of Rs 90.25 and a low of Rs 84.10 so far during the day. The stock had hit a 52-week high of Rs 169.05 on 20 April 2017 and a 52-week low of Rs 82.45 on 16 February 2018.
The stock had underperformed the market over the past one month till 16 February 2018, sliding 18.83% compared with the Sensex's 2.19% fall. The stock had also underperformed the market over the past one quarter, declining 16.8% as against the Sensex's 2.73% rise. The scrip had also underperformed the market over the past one year, declining 40.85% as against the Sensex's 20.17% rise.
The small-cap company has equity capital of Rs crore. Face value per share is Rs
Kwality's board approved conversion of one convertible warrant into 21.69 lakh shares at a price of Rs 115.22 per share aggregating to Rs 25 crore, allotted to Bennett, Coleman & Co. The board also approved conversion of one compulsorily convertible debenture (CCD) into 12.15 lakh equity shares at a price of Rs 115.22 per share aggregating to Rs 14 crore, allotted to HT Media.
Kwality's net profit fell 53.6% to Rs 20.94 crore on 12% growth in net sales to Rs 1773.27 crore in Q3 December 2017 over Q3 December 2016.
Also Read
Kwality is engaged in processing, manufacturing and trading of milk, milk products and dairy products.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content