Apcotex Industries tumbles after poor Q2 numbers

Apcotex Industries lost 6.67% to Rs 128.75 at 11:36 IST on BSE after net profit declined 30.05% to Rs 2.49 crore on 0.19% growth in total income from operations to Rs 70.50 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced after market hours on Thursday, 31 October 2013.

Meanwhile, the S&P BSE Sensex was up 63.54 points or 0.3% at 21,228.06.

On BSE, 11,000 shares were traded in the counter as against average daily volume of 4,480 shares in the past one quarter.

The stock hit a high of Rs 134 and a low of Rs 128.05 so far during the day. The stock had hit a 52-week low of Rs 95.05 on 5 March 2013. The stock had hit a 52-week high of Rs 154.95 on 17 October 2013.

The stock had outperformed the market over the past one month till 31 October 2013, surging 22.3% as compared to the Sensex's 9.21% rise. The scrip had also outperformed the market in the past one quarter, jumping 25.26% compared with the Sensex's 9.4% rise.

The small-cap company has equity capital of Rs 5.22 crore. Face value per share is Rs 5.

Apcotex Industries produces synthetic lattices and synthetic rubber. The company's products include a range of lattices for application in tyre cord dipping, paper/paper board coating, carpet backing, admixture for cement, textile finishing etc. The various grades of synthetic rubber find application in the footwear industry, automotive components, V-belts, conveyor belts, hoses etc.

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