Navkar Corporation surged 7.92% to Rs 163.45 at 10:24 IST on BSE after the company said that the National Company Law Tribunal, Mumbai Bench, has sanctioned the scheme of amalgamation of Navkar Terminals into Navkar Corporation.
The announcement was made after market hours on Wednesday, 28 March 2018. The stock market remained closed on Thursday, 29 March and Friday, 30 March 2018 for holidays.Meanwhile, the S&P BSE Sensex was up 90.82 points or 0.28% at 33,059.50. The S&P BSE Small-Cap index advanced 1.29%, outperforming the Sensex.
On the BSE, 15.27 lakh shares were traded on the counter so far as against the average daily volumes of 1.42 lakh shares in the past one quarter. The stock had hit a high of Rs 165 and a low of Rs 156.55 so far during the day. The stock had hit a record high of Rs 246.55 on 12 May 2017 and a 52-week low of Rs 147.05 on 23 March 2018.
The small-cap company has equity capital of Rs 150.52 crore. Face value per share is Rs 10.
On a consolidated basis, Navkar Corporation's net profit rose 20.61% to Rs 23.47 crore on 16.24% growth in net sales to Rs 106.46 crore in Q3 December 2017 over Q3 December 2016.
Navkar Corporation is a container freight stations (CFSs) operator in India with three CFSs. The company operates in close proximity to the Jawaharlal Nehru Port (JNP), the largest container port in India.
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