Pioneer Distilleries was locked at 5% upper circuit at Rs 205.25 at 14:45 IST on BSE after the company received eligibility certificate entitling the company to a subsidy from Maharashtra government.
The announcement was made after market hours on Friday, 23 June 2017. The market remained shut yesterday, 26 June 2017, on account of holiday.Meanwhile, the S&P BSE Sensex was down 215.81 points, or 0.69%, to 30,922.40. The S&P BSE Small-Cap index was down 252.99 points, or 1.64%, to 15,128.91.
On the BSE, 2,454 shares were traded on the counter so far as against the average daily volumes of 12,229 shares in the past one quarter. The stock was locked at a high of Rs 205.25 in intraday trade. The stock had hit a low of Rs 204.80 so far during the day.
The stock had hit a 52-week high of Rs 253.90 on 12 June 2017 and a 52-week low of Rs 103.50 on 11 August 2016.
The stock had dropped 13.38% in four sessions to settle at Rs 195.50 on 23 June 2017 from a close of Rs 225.70 on 19 June 2017.
The stock had outperformed the market over the past one month till 23 June 2017, gaining 39.64% compared with 2.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.93% as against Sensex's 6.16% gains. The scrip had also outperformed the market in past one year, rising 22.34% as against Sensex's 15.32% gains.
The small-cap company has equity capital of Rs 13.39 crore. Face value per share is Rs 10.
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Pioneer Distilleries said that it has received eligibility certificate entitling the company to a subsidy of Rs 118.79 crore under mega subsidy phase II project from the government of Maharashtra under Package Scheme of Incentives, 2007.
Pioneer Distilleries reported net loss of Rs 11.21 crore in Q4 March 2017 compared with net profit of Rs 12.13 crore in Q4 March 2016. Net sales fell 29.4% to Rs 34.60 crore in Q4 March 2017 over Q4 March 2016.
Pioneer Distilleries is engaged in manufacturing of alcohol.
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