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The announcement was made during market hours today, 11 December 2017.
Meanwhile, the S&P BSE Sensex was up 92.01 points, or 0.28% to 33,342.31. The S&P BSE Small-Cap index was up 81.94 points, or 0.45% to 18,293.82, outperforming the Sensex.
More than usual volumes were witnessed on the counter. On the BSE, 1.57 lakh shares were traded in the counter so far, compared with average daily volumes of 72,206 shares in the past one quarter. The stock had hit a high of Rs 260 and a low of Rs 246 so far during the day. The stock had hit a 52-week high of Rs 292 on 9 February 2017. The stock had hit a 52-week low of Rs 203 on 16 February 2017.
The stock had underperformed the market over the past one month till 8 December 2017, falling 5.2% compared with the Sensex's 0.09% rise. The stock had also underperformed the market over the past one quarter, declining 0.35% as against the Sensex's 4.93% rise. The scrip had also underperformed the market over the past one year, shedding 8.41% as against the Sensex's 24.56% rise.
The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.
Parag Milk Foods said that all its products are in line with global quality standards which gave it the opportunity to supply to TajSATS Air Catering since August 2017.
Taj has exclusive rights to serve Parag Milk Foods' products to international customers who are introduced to the goodness of 100% cow milk based products.
Devendra Shah, Chairman, Parag Milk Foods said that the company has entered into a memorandum of understanding (MOU) for the first time with TajSATS to supply company's products on international flights. This is just the beginning of relationship with Taj and the company is looking to strengthen this partnership in the months to come. Although the company already exports its products to several countries, this is another step to introduce company's products to international customers, he added.
On a consolidated basis, net profit of Parag Milk Foods jumped 107.7% to Rs 24.90 crore on 6.7% rise in net sales to Rs 504.51 crore in Q2 September 2017 over Q2 September 2016.
Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan-India presence.
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