Gujarat Ambuja Exports was up 5.01% to Rs 89.10 at 10:30 IST on BSE after the company said its board will meet on 13 December 2016, to consider the proposal for buyback of equity shares of the company.
The announcement was made after market hours yesterday, 7 December 2016.Meanwhile, the S&P BSE Sensex was up 379.10 points or 1.44% at 26,615.97.
On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 59,617 shares in the past one quarter. The stock had hit a high of Rs 92.65 and a low of Rs 87 so far during the day.
The stock had hit a 52-week high of Rs 103 on 10 November 2016 and a 52-week low of Rs 35.50 on 26 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 10.02% compared with the Sensex's 4.45% fall. The scrip had, however, outperformed the market in the past one quarter, declining 0.93% as against the Sensex's 9.3% fall.
The small-cap company has equity capital of Rs 27.67 crore. Face value per share is Rs 2.
Gujarat Ambuja Exports' net profit surged 125.3% to Rs 29.83 crore on 8.9% decline in net sales to Rs 629.04 crore in Q2 September 2016 over Q2 September 2015.
Gujarat Ambuja Exports is principally involved in agro-processing and has focus on exports, competing in the global market.
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