Balmer Lawrie tumbles after board defers bonus issue

Balmer Lawrie & Company slumped 5.60% to Rs 170.10 after the company said its board in its meeting on Tuesday, 17 September 2019, deferred decision on bonus share issue.

Meanwhile, the S&P BSE Sensex was up 121 points or 0.33% to 36,601.84.

On the BSE, 20076 shares were traded in the counter so far compared with average daily volumes of 10868 shares in the past one quarter. The stock hit a high of Rs 172.85 and a low of Rs 168 so far during the day.

The stock hit a 52-week high of Rs 213 on 17 Dec 2018. The stock hit a 52-week low of Rs 160 on 18 Feb 2019.

On a consolidated basis, the public sector enterprise's net profit fell 41.8% to Rs 22.63 crore on a 11.8% decline in the net sales to Rs 431.43 crore in Q1 June 2019 over Q1 June 2018.

Balmer Lawrie & Co. is a Miniratna - I public sector enterprise under the Ministry of Petroleum and Natural Gas, Govt. of India. The company is engaged in providing greases and lubricating oils, industrial packaging (steel drums), logistics infrastructure and services, tours and travel.

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