Uflex rose 1.07% to Rs 268 at 11:45 IST on BSE after the company said that its board of directors will meet on 25 November 2016, to approve raising funds through issuance of debentures on private placement basis.
The announcement was made after market hours yesterday, 16 November 2016.Meanwhile, the S&P BSE Sensex was up 54.95 points or 0.21% at 26,353.64.
On BSE, so far 7,301 shares were traded in the counter as against average daily volume of 70,352 shares in the past one quarter. The stock hit a high of Rs 299 and a low of Rs 285 so far during the day. The stock hit a record high of Rs 334 on 27 October 2016. The stock hit a 52-week low of Rs 132.20 on 29 February 2016. The stock underperformed the market over the past one month till 16 November 2016, declining 14.11% compared with the Sensex's 4.97% fall. The scrip however underperformed the market in past one quarter, gaining 16.27% as against the Sensex's 6.29% decline.
The mid-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.
Uflex said that the meeting of the board of directors of the company is scheduled to be held on 25 November 2016, to approve issuance of redeemable non-convertible secured debentures (NCDs)/bonds upto an amount of Rs 650 crore subject to necessary approvals on private placement basis. The board will also consider Q2 results on that day.
On consolidated basis, Uflex's net profit rose 11.6% to Rs 86.16 crore on 4.5% decline in net sales to Rs 1480.42 crore in Q1 June 2016 over Q1 June 2015.
Uflex is one of the India's largest end-to-end flexible packaging companies.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
