Hot Pursuit     30-Mar-15
Gulshan Polyols soars after mutual fund buys stake
Gulshan Polyols rose 15.46% to Rs 307 at 11:04 IST on BSE after Reliance mutual fund bought 6.70% stake in the company through bulk deal on BSE on Friday, 27 March 2015.

Meanwhile, the BSE Sensex was up 288.33 points, or 1.05%, to 27,746.97.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 15,248 shares in the past one quarter.

The stock hit a high of Rs 319 and a low of Rs 273.10 so far during the day. The stock hit a 52-week high of Rs 323.50 on 23 February 2015. The stock hit a 52-week low of Rs 83.55 on 28 March 2014.

The stock had underperformed the market over the past one month till 27 March 2015, falling 5.74% compared with 6.03% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 25.60% as against Sensex's 0.80% rise.

The small-cap company has an equity capital of Rs 4.44 crore. Face value per share is Rs 5.

Reliance Capital Trustee Company- A/C Reliance Mid & Small cap Fund bought 5.95 lakh shares, or 6.70% equity, at Rs 250 each.

Reliance mutual fund acquired the stake from Gulshan Polyols' promoter, Mridula Jain, who sold 5.96 lakh shares, or 6.71% stake, in the company at Rs 250.01 each.

As on 31 December 2014, Mridula Jain held 3.08 lakh shares, or 3.47% stake, in Gulshan Polyols.

Net profit of Gulshan Polyols rose 63.62% to Rs 8.77 crore on 38.45% rise in net sales to Rs 114.10 crore in Q3 December 2014 over Q3 December 2013.

Gulshan Polyols is a leading manufacturer of specialty chemicals.

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