Hot Pursuit     25-May-11
Diamines & Chemicals hits 52-week high on bonus bounty
Diamines & Chemicals jumped 6.58% to Rs 98 at 10:14 IST on BSE, after the company's board at the time of announcing Q4 and year ended March 2011 results recommended a 1:2 bonus issue.

The company announced the results and bonus issue after market hours on Tuesday, 24 May 2011.

Meanwhile, the BSE Sensex was down 64.54 points, or 0.36%, to 17,947.43.

On BSE, 23,602 shares were traded in the counter as against average daily volume of 7,305 shares over the past one quarter.

The stock hit a high of Rs 102.40 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 95.10 so far during the day. The stock had hit a 52-week low of Rs 53.90 on 7 June 2010.

The stock had outperformed the market over the past one month till 24 May 2011, gaining 27.27% compared with the Sensex's 8.11% fall. The stock had also outperformed the market in past one quarter, rising 26.57% as against Sensex's return of 2.15%.

The small-cap specialty chemicals manufacturer has an equity capital of Rs 6.52 crore. Face value per share is Rs 10.

Diamines & Chemicals' net profit galloped 730.4% to Rs 3.82 crore on 106.8% surge in net sales to Rs 23.76 crore in Q4 March 2011 over Q4 March 2010. Net profit soared 57.3% to Rs 14.71 crore on 82.6% jump in net sales to Rs 82.73 crore in the year ended March 2011 over the year ended March 2010.

Diamines & Chemicals' board recommended a final dividend of Rs 4.50 per share (45%) for the year ended March 2011.

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