Nocil, the manufacturer of basic organic chemicals, advanced 2.77% to Rs 87.20 at late morning on BSE after the company’s announcement of approval of capital expenditure envisaged at about Rs 170 crore at its plants at Navi Mumbai and Dahej.
On the BSE, 3.62 lakh shares were traded on the counter as against the average daily volumes (ADV) of 3.31 lakh shares in the past one quarter. The stock had hit a high of Rs 88.50 and a low of Rs 86 during the day, as a 52-week high. The small-cap company having equity capital of Rs 163.58 crore and Face value per share is Rs 10.
Music Broadcast’s Shares were trading at Rs 380.90 at the same time on BSE, a premium of 14.38% over the IPO price of Rs 333 per share. The stock hit a high of Rs 420 and low of Rs 370.15. On BSE, so far 20.30 lakh shares were traded on the counter. The IPO of Music Broadcast ended with robust response from investors. The IPO received bids for 41.58 cr shares compared with 1.04 cr shares on offer. The IPO was subscribed 39.67 times, which was opened for bidding on 6 March 2017 and closed on 8 March 2017.
Music Broadcast raised Rs 146.55 crore by selling 44.01 lakh shares to a total of 15 anchor investors prior to the opening of the company's IPO. The company reported a net profit of Rs 29.76 crore on net sales of Rs 136.89 crore in 6-months ended Sept 2016.