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RSWM slumps after reverse turnaround in Q1

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tumbled 8.75% to Rs 351 at 10:52 on after the company reported net loss of Rs 5.90 crore in Q1 June 2017, compared with net profit of Rs 35.69 crore in Q1 June 2016.

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P Sensex was down 112.58 points, or 0.35% at 31,901.61. The S&P Small-Cap index was down 63.66 points, 0.4% at 15,840.38.

High volumes were witnessed on the counter. On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 5,314 shares in the past one quarter. The stock had hit a high of Rs 367 and a low of Rs 340 so far during the day. The stock had hit a record high of Rs 510 on 6 February 2017 and a 52-week low of Rs 381.60 on 26 July 2017.

The stock had underperformed the market over the past one month till 8 Aug 2017, declining 5.77% compared with the Sensex's 2.08% rise. The scrip had also underperformed the market over the past one quarter declining 11.28% as against the Sensex's 6.98% rise. The scrip had also underperformed the market over the past one year declining 17.9% as against the Sensex's 13.6% rise.

The small-cap company has equity capital of Rs 23.55 crore. Face value per share is Rs 10.

RSWM's net sales fell 2.5% to Rs 705.60 crore in Q1 June 2017 over Q1 June 2016.

is engaged in the manufacturing, spinning, weaving and processing of manmade textile fabrics.

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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, August 09 2017. 10:55 IST