On Thursday, the board of Banco Products, after detailed deliberations and discussions, has taken a decision to drop the proposal of buyback of equity shares of the company. As a result, when the trading session commenced on Friday, Banco Products share price dipped 5 per cent.
Currently, promoters hold 67.88 per cent stake in the company whereas the rest is held by the public. Yesterday, Banco Products share price closed a tad higher at Rs. 194.65 against the previous close of Rs. 193.6 on the NSE.
At 9.45 AM, the stock is trading at Rs. 184.70, touched the day’s high and low at Rs. 186.90 and Rs. 178, respectively. Till now, 74,652 shares were traded in the counter with a traded value of Rs. 137.51 lacs, as per NSE.
Banco Products share price met its yearly high value at Rs. 241.65 on 6th Sep ‘16 whereas the 52 week low value is seen at Rs. 90.20 on 25th Feb ‘16. The company has a market map of Rs. 1392.11 (Cr) and has a book value of 96.09. The average daily movement of the stock is 9.24 and the average volume for 20 days is seen at 144033.th Sep 2016, the company has reported a Consolidate sales of Rs. 352.39 Cr., down -7.49 per cent from last quarter Sales of Rs. 380.94 Cr. and up 8.46% from last year same quarter Sales of Rs. 324.91 Cr. Company has reported net profit after tax of Rs. 31.98 Cr.
Banco Products is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research, it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Banco Products share price history.
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