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Emami Paper tumbles after weak Q4 earnings

Capital Market 

Paper Mills slumped 7.48% to Rs 120 at 10:06 on after net profit fell 94% to Rs 1.40 crore on 110.3% growth in net sales to Rs 300.84 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P Sensex was up 25.25 points or 0.08% at 30,607.85. The S&P Small-Cap index was up 17.65 points or 0.11% at 15,727.24.

On the BSE, 16,000 shares were traded on the counter so far as against the average daily volumes of 7,698 shares in the past one quarter. The stock had hit a high of Rs 124.50 and a low of Rs 116 so far during the day.

The stock had hit a record high of Rs 152.20 on 3 November 2016 and a 52-week low of Rs 47 on 26 May 2016. It had underperformed the market over the past one month till 16 May 2017, declining 3.39% compared with the Sensex's 3.81% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 14.73% as against the Sensex's 8.06% rise.

The small-cap company has equity capital of Rs 12.10 crore. Face value per share is Rs 2.

Paper Mills, a part of Group, specialises in the manufacture of newsprint and writing and printing paper.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 10:08 IST