Balaji Amines declines after weak Q4 results

Balaji Amines fell 7.71% to Rs 358.45 at 10:08 IST on BSE after net profit fell 23.4% to Rs 17.87 crore on 7.3% increase in net sales to Rs 193.14 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 42.55 points, or 0.14% at 30,208.43. The S&P BSE Small-cap index was down 115.45 points, 0.74% at 15,537.95.

High volumes were witnessed on the counter. On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 5,985 shares in the past one quarter. The stock had hit a high of Rs 375 and a low of Rs 350 so far during the day.

The stock had hit a record high of Rs 401.10 on 24 April 2017 and a 52-week low of Rs 195.40 on 13 May 2016. The stock had outperformed the market over the past one month till 11 May 2017, advancing 2.68% compared with the Sensex's 1.55% rise. The scrip had also outperformed the market over the past one quarter advancing 13.67% as against the Sensex's 6.76% rise.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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