Micro Inks makes a mark
Printing ink maker Micro Inks rose 3% to Rs 330 after the company said on Thursday its US subsidiary had entered into a supply deal worth about $3 million with St. Ives Inc.
The company said the deal for the supply of heatset ink was for one year.
2,096 shares changed hands in the counter on BSE.
The stock edged lower in the past one month. From Rs 359.05 on 27 November, the stock slipped to Rs 320.25 by 28 December.
Mirco Inks is the largest printing ink manufacturing company in India commanding a 30% market share. In March 2004, the company changed its name from Hindustan Inks & Resins to Micro Inks, which also is the name of its 100% subsidiary in the US.
Micro Inks posted a net loss of Rs 7.41 crore for the quarter ended September 30, as compared to net profit of Rs 16.09 crore for the same quarter last year. The total income (net of excise) increased 1.28% to Rs 237.27 crore for the quarter ended September 30, from Rs 234.26 crore a year ago.
The company said the deal for the supply of heatset ink was for one year.
2,096 shares changed hands in the counter on BSE.
The stock edged lower in the past one month. From Rs 359.05 on 27 November, the stock slipped to Rs 320.25 by 28 December.
Mirco Inks is the largest printing ink manufacturing company in India commanding a 30% market share. In March 2004, the company changed its name from Hindustan Inks & Resins to Micro Inks, which also is the name of its 100% subsidiary in the US.
Micro Inks posted a net loss of Rs 7.41 crore for the quarter ended September 30, as compared to net profit of Rs 16.09 crore for the same quarter last year. The total income (net of excise) increased 1.28% to Rs 237.27 crore for the quarter ended September 30, from Rs 234.26 crore a year ago.
posted by rtotla at
7:44 AM
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