Sanghvi Movers rose 3.31% to Rs 299.90 at 10:19 IST on BSE after bulk buying from mutual funds viz. Reliance Mutual Fund, Sundaram Mutual Fund, and HDFC Mutual Fund in bulk deals on BSE on Friday, 10 April 2015.
Meanwhile, the S&P BSE Sensex was down 14.17 points or 0.05% at 28,865.21.
On BSE, so far 55,000 shares were traded in the counter as against average daily volume of 97,773 shares in the past one quarter.
The stock hit a high of Rs 309.90 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 298.50 so far during the day. The stock had hit a 52-week low of Rs 70 on 10 April 2014.
The stock had outperformed the market over the past one month till 10 April 2015, surging 6.85% compared with Sensex's 0.59% rise. The scrip had also outperformed the market in past one quarter, jumping 49.99% as against Sensex's 5.18% rise.
The small-cap company has equity capital of Rs 8.66 crore. Face value per share is Rs 2.
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Reliance Mutual Fund bought 7.50 lakh shares of Sanghvi Movers at an average price of Rs 261 per share on BSE on Friday, 10 April 2015. Sundaram Mutual Fund bought 10.72 lakh shares at an average price of Rs 261 per share. HDFC Mutual Fund bought 17 lakh shares at an average price of Rs 261 per share.
Meanwhile, Olympus India Holdings sold 26.87 lakh shares of Sanghvi Movers at an average price of Rs 261 per share. It has futher sold 13.43 lakh shares of Sanghvi Movers at an average price of Rs 262.20 per share.
Sanghvi Movers reported net profit of Rs 7.19 crore in Q3 December 2014 as against net loss of Rs 6.50 crore in Q3 December 2013. Net sales rose 54.3% to Rs 86.10 crore in Q3 December 2014 over Q3 December 2013.
Sanghvi Movers is the largest crane rental company in India. The company's scope of work includes implementation of turnkey projects, providing of well-maintained equipment, expert technical services and skilled manpower.
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