Sintex Industries rose 2.63% to Rs 101.35 at 11:37 IST on BSE after the National Company Law Tribunal approved the proposed composite scheme of arrangement between the company and its units.
The announcement was made during trading hours today, 24 March 2017.Meanwhile, the S&P BSE Sensex was up 123.90 points, or 0.42% to 29,456.06.
On the BSE, 13.52 lakh shares were traded in the counter so far, compared with average daily volumes of 9.46 lakh shares in the past one quarter. The stock had hit a high of Rs 102.80 and a low of Rs 98.60 so far during the day. The stock hit a 52-week high of Rs 103 on 17 March 2017. The stock hit a 52-week low of Rs 70 on 12 August 2016.
The stock had outperformed the market over the past one month till 23 March 2017, rising 5.67% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 35.65% as against Sensex's 12.64% rise.
The mid-cap company has equity capital of Rs 52.71 crore. Face value per share is Re 1.
The National Company Law Tribunal sanctioned the composite scheme of agreement between Sintex Industries, Sintex Plastic Technology, Sintex-BAPL and Sintex Infra Projects, the company said in an exchange filing.
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On a consolidated basis, net profit of Sintex Industries declined 38.90% to Rs 110.81 crore on 0.07% decline in net sales to Rs 2075.01 crore in Q3 December 2016 over Q3 December 2015.
Sintex is a diversified group with businesses across 2 principal business segments - plastics (including infrastructure) and textiles.
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