Hatsun Agro Product rose 1.40% to Rs 780.45 at 10:49 IST on BSE after the company said a special committee approved raising up to Rs 550 crore via rights issue.
The announcement was made after market hours yesterday, 21 February 2018.Meanwhile, the S&P BSE Sensex was down 83.01 points, or 0.25% to 33,761.85.
On the BSE, 226 shares were traded in the counter so far compared with average daily volumes of 4,939 shares in the past one quarter. The stock had hit a high of Rs 780.70 and a low of Rs 770.35 so far during the day. The stock hit a record high of Rs 970 on 14 November 2017. The stock hit a 52-week low of Rs 441.15 on 22 February 2017.
The stock had outperformed the market over the past 30 days till 21 February 2018, falling 4.76% compared with 6.35% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 13.76% as against Sensex's 0.76% rise. The scrip had outperformed the market in past one year, rising 71.49% as against Sensex's 17.25% rise.
The large-cap company has equity capital of Rs 15.22 crore. Face value per share is Re 1.
Hatsun Agro Product said that the rights issue committee approved the draft letter of offer dated 21 February 2018, with respect to the issue of partly paid-up equity shares to the existing equity shareholders of the company on a rights basis ('rights issue') for an amount aggregating up to Rs 550 crore.
Net profit of Hatsun Agro Product declined 52.67% to Rs 14.98 crore on 7.03% rise in net sales to Rs 1012.94 crore in Q3 December 2017 over Q3 December 2016.
Hatsun Agro Product manufactures and markets products that cater to both cooking and consumption, like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, etc.
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