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RattanIndia Power drops on profit booking

Capital Market 

RattanIndia Power fell 3.5% to Rs 8.83 at 14:04 on BSE, with the stock sliding on profit booking after yesterday's rally.

Meanwhile, the S&P Sensex was up 96.88 points, or 0.33% at 29,510.54. The S&P Small-cap index was up 53.44 points, 0.36% at 15,007.60.

High volumes were witnessed on the counter. On the BSE, 15.18 lakh shares were traded on the counter so far as against the average daily volumes of 8.01 lakh shares in the past one quarter. The stock had hit a high of Rs 9.47 and a low of Rs 8.74 so far during the day.

The stock had hit a 52-week high of Rs 12.29 on 7 July 2016 and a 52-week low of Rs 6.32 on 27 December 2016. The stock had outperformed the market over the past one month till 17 April 2017, advancing 20.55% compared with the Sensex's 0.79% decline. The scrip had also outperformed the market over the past one quarter advancing 30.9% as against the Sensex's 8% rise.

The small-cap company has equity capital of Rs 2,952.93 crore. Face value per share is Rs 10.

RattanIndia Power had rallied 16.71% in the preceding one trading session to settle at Rs 9.15 yesterday, 17 April 2017, from its closing of Rs 7.84 on 13 April 2017.

RattanIndia Power reported net loss of Rs 59.51 crore in Q3 December 2016, as compared with net loss of Rs 4.23 crore in Q3 December 2015. Net sales fell 62.2% to Rs 300.27 crore in Q3 December 2016 over Q3 December 2015.

RattanIndia Power (formerly Indiabulls Power) focuses on developing, constructing, and operating power projects in India.

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

First Published: Tue, April 18 2017. 14:10 IST