Astral Poly Technik retracts from record high

Astral Poly Technik lost 3.01% to Rs 374.10 at 15:18 IST on BSE, with the stock sliding on profit booking after recent rally triggered by the company reporting strong Q3 earnings.

Meanwhile, the S&P BSE Sensex was up 74.24 points or 0.37% at 20,384.98.

On BSE, so far 2,346 shares were traded in the counter as against average daily volume of 4,869 shares in the past one quarter.

The stock was volatile. The stock rose as much as 3.33% at the day's high of Rs 398.55 so far during the day, which is a record high for the counter. The stock lost as much as 3.47% at the day's low of Rs 372.30 so far during the day. The stock had hit a 52-week low of Rs 134.04 on 22 March 2013.

The stock had outperformed the market over the past one month till 6 February 2014, surging 18.71% compared with the Sensex's 2.29% fall. The scrip had also outperformed the market in past one quarter, jumping 44.97% as against Sensex's 2.8% fall.

The small-cap company has equity capital of Rs 11.24 crore. Face value per share is Rs 2.

Shares of Astral Poly Technik had surged 8.07% to settle at Rs 385.70 on Thursday, 6 February 2014, after the company after market hours on 5 February 2014 reported strong Q3 December 2013 earnings. The stock had also witnessed a pre-result rally. The stock jumped 14.48% in prior six trading sessions to settle at Rs 356.90 on 5 February 2014 from a recent low of Rs 311.75 on 28 January 2014.

Astral Poly Technik's net profit surged 100.9% to Rs 21.32 crore on 28.4% growth in net sales to Rs 264.96 crore in Q3 December 2013 over Q3 December 2012.

Astral Poly Technik manufactures CPVC plumbing systems for both residential and industrial applications, and also ASTM solvent weld lead free PVC plumbing systems.

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