Hot Pursuit     08-Sep-17
Saregama India corrects on profit booking
Saregama India fell 1.90% to Rs 501.65 at 15:10 IST on BSE on profit booking after a recent rally.
Meanwhile, the S&P BSE Sensex was up 60.18 points, or 0.19% to 31,722.92.

On the BSE, 38,000 shares were traded in the counter so far, compared with average daily volumes of 66,216 shares in the past one quarter. The stock had hit a high of Rs 522 and a low of Rs 493.40 so far during the day. The stock hit a 52-week high of Rs 522 on 8 September 2017. The stock hit a 52-week low of Rs 181.90 on 22 November 2016.

The stock had outperformed the market over the past one month till 7 September 2017, rising 39.14% compared with 0.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 123.15% as against Sensex's 1.28% rise. The scrip had also outperformed the market in past one year, rising 109.78% as against Sensex's 9.01% rise.

The small-cap company has equity capital of Rs 17.41 crore. Face value per share is Rs 10.

Shares of Saregama India rose 22.68% in seven trading sessions to settle at Rs 511.35 yesterday, 7 September 2017, from its close of Rs 416.80 on 29 August 2017.

Saregama India's net profit rose 95.3% to Rs 3.30 crore on 28.4% growth in net sales to Rs 62.04 crore in Q1 June 2017 over Q1 June 2016.

Saregama India is engaged in the digital distribution of its music catalogue across various languages and genres.

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