Navneet Education rose 0.49% to Rs 102.80 at 14:12 IST on BSE after the company said its board would consider share buyback proposal along with Q2 September 2016 results at a meeting scheduled on 11 November 2016.
The announcement was made during market hours today, 8 November 2016.Meanwhile, the S&P BSE Sensex was up 14.02 points or 0.05% at 27,473.01.
On BSE, so far 1.12 lakh shares were traded in the counter as against average daily volume of 20,816 shares in the past one quarter. The stock was highly volatile. The stock rose as much as 6.4% at the day's high of Rs 108.85 so far during the day. The stock fell as much as 0.24% at the day's low of Rs 102.05 so far during the day. The stock had hit a 52-week high of Rs 114.90 on 26 October 2016. The stock had hit a 52-week low of Rs 76.10 on 12 February 2016. The stock had outperformed the market over the past one month till 7 November 2016, gaining 1.39% compared with 2.15% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 2.2% as against Sensex's 2.21% fall.
The small-cap company has equity capital of Rs 47.64 crore. Face value per share is Rs 2.
Navneet Education's net profit rose 15.5% to Rs 113.56 crore on 8.6% growth in net sales to Rs 560.54 crore in Q1 June 2016 over Q1 June 2015.
Navneet Education, formerly known as Navneet Publications (India), is in the business of educational, children and general books publication, scholastic paper and non-paper stationery products.
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