Bombay Rayon tanks almost 50% in 11 sessions

Bombay Rayon Fashions was locked at 5% lower circuit at Rs 112.45 at 10:40 IST on BSE, with the stock extending its recent downward spiral.

Meanwhile, the S&P BSE Sensex was up 21.80 points or 0.06% at 33,834.55. The S&P BSE Mid-Cap index dropped 0.59%, underperforming the Sensex.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 1.40 lakh shares in the past one quarter. The stock had opened with a downward gap and remained locked at 5% level at Rs 112.45 so far during the day. The stock had hit a 52-week high of Rs 232.50 on 18 December 2017 and a 52-week low of Rs 111 on 17 October 2017.

The stock had underperformed the market over the past one month till 1 January 2018, sliding 36.9% compared with the Sensex's 2.98% rise. The stock had also underperformed the market over the past one quarter, declining 5.05% as against the Sensex's 8.08% rise. The scrip had also underperformed the market over the past one year, tumbling 20.65% as against the Sensex's 26.99% rise.

The mid-cap company has equity capital of Rs 317.48 crore. Face value per share is Rs 10.

Shares of Bombay Rayon Fashions have tumbled 49.96% in eleven trading sessions to its ruling market price of Rs 112.45, from its closing of Rs 224.75 on 15 December 2017.

Bombay Rayon Fashions reported net loss of Rs 14.56 crore in Q2 September 2017, compared with net loss of Rs 53.56 crore in Q2 September 2016. Net sales declined 31.2% to Rs 675.05 crore in Q2 September 2017 over Q2 September 2016.

Bombay Rayon Fashions is engaged in manufacturing textiles consisting of fabrics and garments.

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