Sangam (India) spurted 10% to Rs 41.80 at 11:52 IST on BSE after a block deal of 16.35 lakh shares, or 4.14% equity, was struck at Rs 38.25 per share at 9:37 IST on BSE.
Meanwhile, the BSE Sensex was up 146.98 points, or 0.70%, to 21,287.46.
On BSE, so far 17.62 lakh shares were traded in the counter, compared with an average volume of 8,364 shares in the past one quarter.
The stock hit a high of Rs 44.15 and a low of Rs 36 so far during the day. The stock hit a 52-week high of Rs 57.95 on 18 January 2013. The stock hit a 52-week low of Rs 26 on 1 August 2013.
The stock had outperformed the market over the past one month till 1 January 2014, rising 9.99% compared with the Sensex's 1.68% rise. The scrip had also outperformed the market in past one quarter, gaining 28.38% as against Sensex's 8.32% rise.
The small-cap company has an equity capital of Rs 39.42 crore. Face value per share is Rs 10.
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Sangam (India)'s net profit fell 32.3% to Rs 12.24 crore on 8.5% decline in net sales to Rs 351.40 crore in Q2 September 2013 over Q2 September 2012.
Sangam (India) is engaged in manufacturing of polyester viscose dyed yarn in India. The company also has strong presence in the Indian synthetic blended fabric segment, with brands like Sangam and Anmol. The company has an established client base like Reliance Industries, Reid & Taylor, Siyaram and Grasim. Its fabric is marketed through a network of 200 plus dealers and thousands of retailers.
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