Liberty Shoes dropped 0.82% to Rs 294.95 at 14:50 IST on BSE, on profit booking after the stock witnessed a recent surge in prices.
The stock had surged 17.57% in three sessions to settle at Rs 297.40 yesterday, 18 September 2017, from a close of Rs 252.95 on 13 September 2017.
Meanwhile, the S&P BSE Sensex was up 1.19 points at 32,424.95. The BSE Small-Cap index was up 58.50 points or 0.35% at 16,892.08.
High volumes were witnessed on the counter. On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 71,035 shares in the past one quarter. The stock had hit a high of Rs 307.20 and a low of Rs 290.45 so far during the day.
The stock had hit a 52-week high of Rs 308.90 yesterday, 18 September 2017. The stock had hit a 52-week low of Rs 129.15 on 22 November 2016. The stock had outperformed the market over the past one month till 18 September 2017, jumping 67.36% compared with the Sensex's 2.85% rise. The scrip had also outperformed the market over the past one quarter, rising 69.2% as against the Sensex's 4.4% rise. The scrip had also outperformed the market over the past one year, gaining 74.68% as against the Sensex's 13.37% rise.
The small-cap company has equity capital of Rs 17.04 crore. Face value per share is Rs 10.
Liberty Shoes will reportedly set to launch a new sub-brand called Healers that will be positioned in the premium segment. The company will create a separate retail identity for Healers with exclusive showrooms.
Equity Intelligence India had recently bought nearly two percentage points stake in footwear company through open market. Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India.
Liberty Shoes' net profit fell 81% to Rs 1.08 crore on 1.6% rise in net sales to Rs 121.91 crore in Q1 June 2017 over Q1 June 2016.
Liberty Shoes is one of the leading footwear manufacturers in India.
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