Hike in promoter stake lifts Mangalam Timber Products

News Flash

MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 06/11/2009 | 12:00 AM IST

Hot pursuit

Capital Market

Friday, November 06, 2009 (New Delhi)

Blog

Comments:

Read (0)

Post

Rate the story

The company made this announcement during trading hours today, 6 November 2009.

Meanwhile, the BSE Sensex was up 46.71 points, or 0.29%, to 16,110.61.

On BSE, 11,123 shares were traded in the counter as against an average daily volume of 25,228 shares in the past one quarter.

The stock hit a high of Rs 26.80 and a low of Rs 25.30 so far during the day. The stock had hit a 52-week high of Rs 29.75 on 5 November 2009 and a 52-week low of Rs 9.71 on 6 March 2009.

The small-cap stock had outperformed the market over the past one month till 5 November 2009, rising 1.20% as compared to the Sensex's 4.76% fall. It had also outperformed the market in the past one quarter, rising 10.68% as compared to the Sensex's return of 1.01%.

The company's equity capital is Rs 18.33 crore. Face value per share is Rs 10.

Aditya Marketing & Manufacturing, a promoter group company, has hike its stake to 5.83% from 4.41% after acquiring 2.60 lakh shares representing 1.42% of the equity capital of the company through open market purchases on 5 November 2009. Increase in stake by promoters in a company helps bolster investor confidence.

The total promoter shareholding in the company is 35.90% (as on 30 September 2009).

Mangalam Timber Products reported a net loss of Rs 1.46 crore in Q2 September 2009 as compared to net profit of Rs 0.04 crore in Q2 September 2008. Net sales fell 15.1% to Rs 16.44 crore in Q2 September 2009 over Q2 September 2008.

The company is engaged in manufacture of plain and pre-laminated medium density fibre. The company operates in three segments: medium density fibre, formaldehyde and others. It operates in India only.

Powered by Capital Market - Live News