Meanwhile, the S&P BSE Sensex was up 333.21 points or 1.05% at 32,167.20. The S&P BSE Mid-Cap index advanced 159.16 points or 1.01% at 15,963.75.
On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 63,769 shares in the past one quarter. The stock had hit a high of Rs 548.55 and a low of Rs 532.80 so far during the day. The stock had hit a 52-week high of Rs 708.10 on 7 August 2017 and a 52-week low of Rs 358.40 on 23 November 2016.
The stock had underperformed the market over the past one month till 11 October 2017, sliding 9.33% compared with the Sensex`s 0.15% fall. The stock had also underperformed the market over the past one quarter, declining 15.82% as against the Sensex`s 0.27% rise. The scrip had, however, outperformed the market over the past one year, gaining 23.04% as against the Sensex`s 13.36% rise.
The mid-cap company has equity capital of Rs 13.81 crore. Face value per share is Rs 2.
The broker reportedly sees a sharp upside in the stock, citing attractive play of balanced growth in cotton and non-cotton businesses of Kaveri Seed Company.
Kaveri Seed Company`s net profit rose 31.1% to Rs 202.38 crore on 19.6% growth in net sales to Rs 590.56 crore in Q1 June 2017 over Q1 June 2016.
Kaveri Seed Company makes hybrid seeds.
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