Butterfly Gandhimathi Appliances gains on bargain hunting

August 19, 2014 | Business Standard

Butterfly rose 3.26% to Rs 280 at 11:52 on on bargain hunting after the stock fell 10.14% in the preceding six trading sessions to Rs 271.15 on 18 August 2014, from a recent high of Rs 301.75 on 7 August 2014.

Meanwhile, the BSE Sensex was up 18.77 points, or 0.07%, to 26,409.73.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 6,879 shares in the past one quarter.

The stock hit a high of Rs 291.90 and a low of Rs 271.25 so far during the day. The stock hit a 52-week high of Rs 361 on 16 January 2014. The stock hit a 52-week low of Rs 255 on 25 February 2014.

The stock had underperformed the market over the past one month till 18 August 2014, falling 8.55% compared with 2.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.10% as against Sensex’s 9.41% rise.

The small-cap company has an equity capital of Rs 17.88 crore. Face value per share is Rs 10.

Net profit of Butterfly Gandhimathi Appliances declined 98.08% to Rs 0.17 crore on 48.27% fall in net sales to Rs 107.02 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Thursday, 14 August 2014. The was closed on Friday, 15 August 2014, on account of Independence Day. Shares of Butterfly Gandhimathi Appliances fell 5.54% to Rs 271.15 on Monday, 18 August 2014.

Butterfly Gandhimathi Appliances is engaged in manufacturing and marketing of household appliances, such as LPG stoves, mixer-grinders, table top wet grinders and pressure cookers. The company manufactures a range of home appliances, kitchen products and cookware.