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Manaksia Industries slumps after weak Q4 results

Capital Market 

Industries hit a lower circuit limit of 5% at Rs 37.05 at 10:47 on after consolidated net profit declined 55.82% to Rs 6.30 crore on 80.93% rise in net sales to Rs 60.81 crore in Q4 March 2017 over Q4 March 2016.

The result was announced on Saturday, 15 April 2017.

Meanwhile, the S&P Sensex was down 12.64 points, or 0.04% to 29,448.81.

On the BSE, 1.35 lakh shares were traded in the counter so far, compared with average daily volumes of 26,452 shares in the past one quarter. The stock had hit a high of Rs 40.95 so far during the day, which is also a record high for the counter. The stock hit a 52-week low of Rs 3.20 on 9 May 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 39.29% compared with 0.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 105.16% as against Sensex's 8.16% rise.

The small-cap company has equity capital of Rs 6.55 crore. Face value per share is Re 1.

Industries' net profit rose 45.79% to Rs 27.89 crore on 20.89% decline in net sales to Rs 124.50 crore in the year ended March 2017 over the year ended March 2016.

Industries is engaged in the business of metal packaging products and aluminum semi rigid containers.

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

First Published: Mon, April 17 2017. 10:51 IST