Pincon Spirit was locked at 5% upper circuit at Rs 51.70 at 14:49 IST on BSE after the company said it has entered into tie-up with retail outlets of Metro Cash and Carry for selling and distribution of its edible oil.
The announcement was made during market hours today, 6 October 2017.Meanwhile, the S&P BSE Sensex was up 171.91 points or 0.54% at 31,763.94. The S&P BSE Small-Cap index advanced 175.80 points or 1.07% at 16,624.98.
On the BSE, 36,000 shares were traded on the counter so far as against the average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 51.70 and a low of Rs 49.50 so far during the day. The stock had hit a 52-week high of Rs 80.30 on 25 January 2017 and a 52-week low of Rs 42.15 on 22 August 2017.
The stock had underperformed the market over the past one month till 5 October 2017, sliding 12.83% compared with the Sensex's 0.68% fall. The stock had also underperformed the market over the past one quarter, sliding 29.19% as against the Sensex's 1.11% rise. The scrip had also underperformed the market over the past one year, declining 34.59% as against the Sensex's 11.95% rise.
The small-cap company has equity capital of Rs 44.09 crore. Face value per share is Rs 10.
Pincon Spirit said it has entered into tie-up with retail outlets of Metro Cash and Carry for selling and distribution of its edible oil viz. Pincon Mustard Oil and Pincon Soya Oil.
Net profit of Pincon Spirit rose 30.6% to Rs 11.92 crore on 26.3% rise in net sales to Rs 390.62 crore in Q1 June 2017 over Q1 June 2016.
Pincon Spirit is a liquor company. The company is engaged in carrying on the business of blending, bottling and wholesale distribution of Indian made Indian liquor (IMIL).
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