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Muthoot Capital surges over 17% as board plans to consider bonus issue

Muthoot Capital

Mumbai: Shares of Muthoot Capital surged as much as 17.59 per cent and hit their fresh 52-week high of Rs 429 in morning trade on Wednesday after the company informed bourses that the board of directors of the company will consider the issue of bonus shares at their meeting next week.

In a BSE filing, the company said, “The Board of Directors of Muthoot Capital Services will inter alia, consider an item regarding the issue of bonus shares to its members at their meeting to be held on Tuesday, April 18, 2017.”

The scrip was trading 15.65 per cent up at Rs 421.90 at 10.38 am (IST). Shares of the company opened at Rs 388 and touched an intraday high and low of Rs 429 and Rs 348, respectively, in trade so far. Benchmark BSE Sensex was down 138.28 points, or 0.46 per cent, at 29,645.36.

For the quarter ended December 31, 2016, the company reported a net profit of Rs 6.44 crore, up 6.27 per cent, against Rs 6.06 crore in the corresponding quarter last year. Net sales of the company jumped 20.84 per cent year-on-year to Rs 69.88 crore for the quarter under review. It had posted net sales of Rs 57.83 crore in the same quarter last year.

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