Scooters India jumped 4.88% to Rs 25.80 at 14:20 IST on BSE after a bench of Board for Industrial & Financial Reconstruction, New Delhi during recent hearing held on 15 September 2015 has considered discharge of the company from BIFR.
The announcement was made during market hours today, 22 September 2015.
Meanwhile, the S&P BSE Sensex was down 457.48 points or 1.62% at 25,768.12.
On BSE, so far 3,658 shares were traded in the counter as against average daily volume of 1,179 shares in the past one quarter.
The stock hit a high of Rs 25.80 and a low of Rs 23.80 so far during the day. The stock had hit a 52-week high of Rs 38.85 on 10 November 2014. The stock had hit a 52-week low of Rs 21.75 on 10 June 2015.
Also Read
The stock had outperformed the market over the past one month till 21 September 2015, gaining 1.44% compared with Sensex's 4.29% fall. The scrip had also outperformed the market in past one quarter, rising 2.5% as against Sensex's 4.11% fall.
The mid-cap company has equity capital of Rs 85.38 crore. Face value per share is Rs 10.
Scooters India said that discharge of the company from The Board for Industrial and Financial Reconstruction (BIFR) was considered based on submissions made by operating agency, State Bank of India to the effect that networth of the company as on 31 March 2014 has turned positive. The statement of proceedings of the said hearing is awaited and shall be submitted soon after receipt of the same, company said.
Scooters India's net profit fell 28.1% to Rs 0.69 crore on 18.5% decline in total income to Rs 30.06 crore in Q1 June 2015 over Q1 June 2014.
Incorporated in 1972, Scooters India is a totally integrated automobile company, engaged in designing, developing, manufacturing and marketing a broad spectrum of conventional and non-conventional fuel driven 3-wheelers.
Powered by Capital Market - Live News
