Cerebra Integrated Technologies rose 9.63% to Rs 43.85 at 12:03 IST on BSE after the company said it has received permission from Karnataka State Pollution Control Board to start its recycling plant in Bangalore.
The announcement was made after market hours yesterday, 23 May 2017.Meanwhile, the S&P BSE Sensex was up 94.70 points or 0.31% at 30,459.95. The S&P BSE Small-Cap index was up 22.66 points or 0.15% at 14,792.52.
On the BSE, 1.24 lakh shares were traded on the counter so far as against the average daily volumes of 1.73 lakh shares in the past one quarter. The stock had hit a high of Rs 44 and a low of Rs 41.50 so far during the day.
The stock had hit a record high of Rs 50.15 on 18 April 2017 and a 52-week low of Rs 11.79 on 3 August 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 10.51% compared with the Sensex's 3.41% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 7.96% as against the Sensex's 5.1% rise.
The small-cap company has equity capital of Rs 108.49 crore. Face value per share is Rs 10.
Cerebra Integrated Technologies said that the Karnataka State Pollution Control Board has issued its consent to the company to start production for its E-Waste recycling plant setup on a 12 acre land at Narsapura Industrial Area, Old Madras Road.
The plant's operations will include dismantling and segregation of E-Waste for recovery of precious metals like gold, silver, platinum, palladium and rhodium. Operations at the plant will commence with immediate effect, the company said.
Cerebra Integrated Technologies' consolidated net profit surged 227.1% to Rs 6.64 crore on 18.6% growth in net sales to Rs 68.83 crore in Q3 December 2016 over Q3 December 2015.
Cerebra Integrated Technologies is engaged in manufacture of computer systems under the brand name cerebra and software development.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
