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Shree Ganesh Jewellery gains on preferential share issue plan

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Capital Market
Last Updated : Jun 26 2013 | 10:30 AM IST

The company made the announcement after market hours on Tuesday, 25 June 2013.

Meanwhile, the S&P BSE Sensex was down 35.14 points, or 0.19%, to 18,664.29.

On BSE, 15,000 shares were traded in the counter as against an average daily volume of 22,999 shares in the past one quarter.

The stock hit a high of Rs 80 and a low of Rs 76.90 so far during the day. The stock had hit a 52-week high of Rs 139.50 on 9 January 2013. The stock had hit a 52-week low of Rs 70.50 on 25 June 2013.

The stock had underperformed the market over the past one month till 25 June 2013, sliding 29.56% compared with the Sensex's 5.46% fall. The scrip had also underperformed the market in past one quarter, falling 16.27% as against Sensex's 0.28% fall.

The small-cap company has an equity capital of Rs 70.63 crore. Face value per share is Rs 10.

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Shree Ganesh Jewellery House said the board will consider issuing equity shares on preferential basis to non-promoters/foreign investors. The proposal is subject to approval of shareholders, the company added.

On a consolidated basis, Shree Ganesh Jewellery House's net profit fell 11.5% to Rs 171.86 crore on 76.1% increase in net sales to Rs 3708.78 crore in Q4 March 2013 over Q4 March 2012.

Shree Ganesh Jewellery House manufactures and exports handcrafted gold jewellery.

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First Published: Jun 26 2013 | 9:51 AM IST

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