Both MORI & MORI.x are among top gainers for day, on above average volumes for them. Normal share up 23% to Rs 4,500 and non-voting up 36% to Rs 3,400 by 12 noon.
MORI reported good FY11 results, partly due to capital gains on sale of PHAR and REEF shares.
Its FY11 net profit was Rs 331 mn (FY11 eps = Rs 438), of which Rs 164 mn was capital gains. But 4Q11 profit was also strong at Rs 93 mn (4Q eps = Rs 123).
Book value was Rs 2,294 @ 31st mar 2011
Main business is pharmaceutical distribution, but also has interests in consumer goods and agro chemical distribution.
Another illiquid company, with some fundamental backing this time, but what prompted today's jump I wonder ?