Sundaram Multi Pap rose 4.05% to Rs 2.31 at 14:42 IST on BSE after the company said its wholly owned subsidiary E-Class Education System has partnered with Techno Electronics for distributing educational content in tablet form to schools run by BMC.
The company made the announcement after market hours yesterday, 10 September 2015.
Meanwhile, the S&P BSE Sensex was up 34.14 points or 0.13% at 25,656.31.
On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 1.47 lakh shares in the past one quarter.
The stock hit a high of Rs 2.45 and a low of Rs 2.25 so far during the day. The stock had hit a 52-week high of Rs 4.13 on 5 February 2015. The stock had hit a 52-week low of Rs 1.29 on 22 October 2014.
The stock had underperformed the market over the past one month till 10 September 2015, sliding 26.25% compared with Sensex's 8.82% fall. The scrip had, however, outperformed the market in past one quarter, surging 6.22% as against Sensex's 4.54% fall.
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The small-cap firm has equity capital of Rs 21.56 crore. Face value per share is Re 1.
The tablets will be supplied to the school students along with educational content and other accessories. As part of the order, the company will provide educational content for the 22,799 tablets for a period of 3 years. These tablets will be given to eigth standard students currently and will be upgraded for ninth and tenth standard content in the coming years, Sundaram Multi Pap said in a statement.
Sundaram Multi Pap reported net profit of Rs 0.59 crore in Q1 June 2015 as against net loss of Rs 3.63 crore in Q1 June 2014. Net sales rose 21.7% to Rs 33.74 crore in Q1 June 2015 over Q1 June 2014.
Sundaram Multi Pap is engaged in the manufacture of notebooks and other paper stationery products.
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