Vardhman Special Steels spikes over 14%; fixes record date

Vardhman Special Steels stock is soaring over 14% on BSE, as it informed the Exchange that it has fixed Record Date as April 10, 2017 for the purpose of rights issue of equity shares.

Mar 29, 2017 12:03 IST India Infoline News Service

Vardhman Special Steels stock is soaring over 14% on BSE, as it informed the Exchange that it has fixed Record Date as April 10, 2017 for the purpose of rights issue of equity shares.
 
The stock has touched a high of Rs 141 per share; and a low of Rs 123.30 per share in Wednesday’s trade.
 
It had underperformed the market over the past 1 month till March 28, 2017, advancing 1.02% compared with the Sensex’s 2.32% rise.
 
The scrip had outperformed the market over the past one quarter advancing 29.6% as against the Sensex’s 12.2% rise.
 
The stock has underperformed BSE Mid-cap index on a yearly basis.
 
Stock view:

Vardhman Special Steels Ltd is currently trading at Rs 134.8, up by Rs 15.7 or 13.18% from its previous closing of Rs 119.1 on the BSE.
 
The scrip opened at Rs 123.3 and has touched a high and low of Rs 141.95 and Rs 123.3 respectively. So far 197524(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 221.05 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 133.4 on 20-Feb-2017 and a 52 week low of Rs 45.3 on 12-Apr-2016. Last one week high and low of the scrip stood at Rs 123.4 and Rs 110.35 respectively.
 
The promoters holding in the company stood at 74.97 % while Institutions and Non-Institutions held 0.41 % and 24.62 % respectively.
 
The stock is currently trading above its 50 DMA.

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