Navneet Education on Friday reported a standalone net profit of Rs 16.86 crore for the quarter ended March 31, 2017, an increase of 80.32%, as against Rs 9.35 crore in the same quarter of the previous fiscal.
The board of directors of the company at its meeting held on May 26, 2017, has recommended a dividend of Rs. 2.50 (125%) per share on equity shares of Rs 2 each for the financial year ended March 31, 2017.
Meanwhile, the stock is up by 4.5% at Rs 175.45 per share at 14:14 hours IST on BSE. It witnessed a spurt in the volume by more than 6.41 times. The stock also hit a new 52-week high value of Rs 182.40.
Navneet Education Limited is engaged in the business of publication of education and non-education books, and manufacture of paper and non-paper stationery products.
The scrip opened at Rs 171 and has touched a high and low of Rs 182.4 and Rs 171 respectively. So far 807942(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3999.38 crore.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 175 on 26-Apr-2017 and a 52 week low of Rs 85.4 on 08-Jun-2016. Last one week high and low of the scrip stood at Rs 170.45 and Rs 150.05 respectively.
The promoters holding in the company stood at 61.78 % while Institutions and Non-Institutions held 21.21 % and 17 % respectively.
The stock is currently trading above its 50 DMA.
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