Lypsa Gems shines bright

Lypsa Gems and Jewellery which had been hitting new lows consistently for past few days, is finally up in the green today. It is currently quoted over 4% high at Rs.83, with an intra day high at Rs.86.60.

The much anticipated bonus issue finally came – 1:2 ratio – one share for every two held. Those buying shares today will not be eligible for the bonus – ex-date is 30th Sept.

The company, as the name suggests is into diamonds and jewellery. It is based out of Mumbai with affiliates in Antwerp, Dubai and Moscow. Lypsa has its manufacturing facilities at Navsari and at SurSez, Surat. Financially, its small, with the company ending Q1FY15 with a net profit at Rs.71 lakh, down from Rs.1.21 crore QoQ. NPMs are wafer thin at less than 1%. Market cap currently stands at Rs.175 crore. Promoters stake is 35.90% , FIIs hold some tiny 0.28% and rest is all in public float.