Apcotex Industries drops after recent sharp rally

Apcotex Industries fell 2.71% to Rs 416.05 at 14:56 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 116.10 points, or 0.37% at 31,174.64. The S&P BSE Small-Cap index was down 206.75 points, or 1.32% at 15,402.74.

On the BSE, 8,311 shares were traded on the counter so far as against the average daily volumes of 5,841 shares in the past two weeks. The stock had hit a high of Rs 440.10 so far during the day, which is also its record high. The stock hit a low of Rs 414.70 so far during the day. The stock had hit a 52-week low of Rs 282 on 27 December 2016.

Shares of Apcotex Industries had rallied 14.58% in the preceding five trading sessions to settle at Rs 427.65 yesterday, 22 June 2017, from its close of Rs 373.25 on 16 June 2017.

Apcotex Industries' net profit fell 58.8% to Rs 3.53 crore on 28.2% increase in net sales to Rs 86.73 crore in Q4 March 2017 over Q4 March 2016.

Apcotex Industries is one of the leading producers of performance emulsion polymers in India. Its product range includes VP latex, carboxylated and non-carboxylated SB latexes, acrylic latexes, nitrile latex and synthetic rubber.

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