Waterbase continues upward rally, hits 52-week high
DSIJ Intelligence / 15 Dec 2017
Another seafood based business is catching the fancy of investors. The stock of Waterbase Limited was locked in upper circuit on Friday. There were only buyers for the stock through the day.
Another seafood based business is catching the fancy of investors. The stock of Waterbase Limited was locked in upper circuit on Friday. There were only buyers for the stock through the day.
The stock has been buzzing during this week. It has gained consecutively for the last 5 days during which it has risen 58.55 per cent. The stock hits its 52-week at Rs. 302.20 per share, up Rs. 27.45 or 9.99 per cent.
The upswing in the stock can be attributed to a dividend of 10.00 per cent declared by the company, with an ex-date of December 21. Also, the company announced a merger with Pinnae Feeds which will increase its production capacity significantly.
Waterbase has reported a significant rise in its net profit for Q2FY18 at Rs 9.4 crore, with a net sales of Rs. 96.68 crore.
Meanwhile, the benchmark indices, BSE Sensex was at 33,471.13, up 224.43 points or 0.68 per cent and Nifty50 was at 10,334.60, up by 82.50 points or 0.80 per cent at 13:14 hours on Friday.
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