Aarey Drugs & Pharmaceuticals rose 11.78% to Rs 85.90 at 12:32 IST on BSE after the company said its board will meet on 12 October 2017 to reconsider stock split proposal.
The announcement was made after market hours yesterday, 5 October 2017.Meanwhile, the S&P BSE Sensex was up 179.44 points, or 0.57% to 31,771.47.
On the BSE, 1.89 lakh shares were traded in the counter so far, compared with average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 87.90 and a low of Rs 76.50 so far during the day. The stock hit a 52-week high of Rs 143.95 on 12 September 2017. The stock hit a 52-week low of Rs 40.30 on 21 November 2016.
The stock had underperformed the market over the past one month till 5 October 2017, falling 36.96% compared with 0.22% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.75% as against Sensex's 0.74% rise. The scrip had outperformed the market in past one year, rising 67.25% as against Sensex's 12.40% rise.
The small-cap company has equity capital of Rs 18.08 crore. Face value per share is Rs 10.
Aarey Drugs & Pharmaceuticals had announced during market hours yesterday, 5 October 2017, that it fixed 13 October 2017 as the record date for the purpose of 10-for-1 stock split.
However, the company in a separate announcement after market hours yesterday, 5 October 2017, said that in interest of shareholders, it has decided to withdraw previously set record date for the stock split. In this regard, the company said its board will reconsider the proposal in a meeting on 12 October 2017.
Net profit of Aarey Drugs & Pharmaceuticals rose 73.64% to Rs 1.91 crore on 22.02% decline in net sales to Rs 73.78 crore in Q1 June 2017 over Q1 June 2016.
Aarey Drugs & Pharmaceuticals is one of the rising manufacturer representatives and suppliers of pharmaceutical raw materials, chemicals, pharmaceuticals ingredients, API's drugs, food colours and flavours.
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