Marico Kaya Enterprises advanced 3.2% to Rs 644.25 at 10:05 IST on BSE after the Reserve Bank of India allowed foreign portfolio investors to purchase up to 40% of the paid-up capital of the company.
Meanwhile, the BSE Sensex was down 49.45 points, or 0.18%, to 27,090.49
On BSE, so far 47,235 shares were traded in the counter, compared with an average volume of 1.47 lakh shares in the past one quarter.
The stock hit a record high of Rs 650 in intraday trade today, 4 September 2014. The stock hit a low of Rs 636 so far during the day. The stock hit a record low of Rs 214.40 on 3 July 2014.
The stock had outperformed the market over the past one month till 2 September 2014, surging 110.42% compared with 6.04% rise in the Sensex.
The small-cap company has an equity capital of Rs 13 crore. Face value per share is Rs 10.
On Wednesday, 3 September 2014, the Reserve Bank of India (RBI) advised that Registered Foreign Portfolios Investors (RFPIs) can now invest upto 40% of the paid up capital of Marico Kaya Enterprises. Total foreign holding stood at 30.98% in Marico Kaya Enterprises (as per the shareholding pattern as on 30 June 2014).
The Reserve Bank of India stated that has Marico Kaya Enterprises has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and stock exchanges, the RBI said.
On a consolidated basis, Marico Kaya Enterprises reported a net profit of Rs 0.63 crore in Q1 June 2014 compared with net loss of Rs 5.90 crore in Q1 June 2013. Revenue from operations rose 17% to Rs 75.20 crore in Q1 June 2014 over Q1 June 2013. The previous year numbers were consolidated with Marico as the entire skin care business run under Kaya and its subsidiaries, was a part of Marico. The said business was demerged into Marico Kaya Enterprises with effect from 1 April 2013, the company said in a statement.
Marico Kaya Enterprises owns the specialized skin care business of Kaya (erstwhile a subsidiary of Marico). Today, Kaya delivers specialized skin care solutions in India and overseas through its range of Kaya Skin Clinics.
Powered by Capital Market - Live News
