Umang Dairies is 'frozen'

Umang Dairies, a small cap stock is making a big buzz today on the bourses. With volumes over  7.5 times on the counter today, the stock is locked on the 20% upper circuit at Rs.39.90. Its 52-week high is at Rs.64.65.

This company is the third largest seller of branded dairy creamers in consumer packs in India, after Amul and Nestle. A part of the JK Organisation, to further expand its presence, the company has launched its poly pouched liquid milk in Lucknow on 6 January 2014 under the brand name JK Milk.

Financially, the company did not have an encouraging Q2FY14, with a net loss at Rs.50 lakh on a 8% rise in net sales at Rs.27 crore. Promoters hold 74.76% stake in the company, with no FII holding while DIIs hold a miniscule 0.07% stake.