Bhansali Engineering Polymers slumps after weak Q2 results

Bhansali Engineering Polymers hit a lower circuit limit of 20% at Rs 100.80 at 10:43 IST on BSE after net profit declined 32.71% to Rs 16.89 crore on 41.16% rise in net sales to Rs 349.98 crore in Q2 September 2018 over Q2 September 2017.

The result was announced after market hours on Friday, 19 October 2018.

Meanwhile, the S&P BSE Sensex was up 72.05 points, or 0.21% to 34,387.68.

On the BSE, 1.57 lakh shares were traded in the counter so far compared with average daily volumes of 1.92 lakh shares in the past two weeks. The stock had hit a high of Rs 108.85 in early trade. The stock was currently frozen at 52-week low level. It hit a 52-week high of Rs 224.40 on 10 April 2018.

Bhansali Engineering Polymers is a vertically integrated petrochemical company that manufactures ABS, which acts as a raw material for companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other multi-faceted applications.

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