Century Enka tumbles after reporting Q2 earnings

Century Enka tanked 9.87% to Rs 320 at 14:53 IST on BSE after net profit rose 66.46% to Rs 19.01 crore on 2.25% decline in total income from operation to Rs 319.67 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 22.80 points or 0.08% at 27,504.42.

On BSE, so far 3.01 lakh shares were traded in the counter as against average daily volume of 56,179 shares in the past one quarter. The stock hit a high of Rs 362.75 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 311.75 so far during the day. The stock had hit a 52-week low of Rs 144.80 on 26 February 2016. The stock had outperformed the market over the past one month till 2 November 2016, advancing 35.72% compared with 1.22% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 60.44% as against Sensex's 1.62% fall.

The small-cap company has equity capital of Rs 21.85 crore. Face value per share is Rs 10.

Shares of Century Enka had witnessed a pre-result rally. The stock had surged 13.65% in prior four trading sessions to settle at Rs 355.05 yesterday, 2 November 2016, from its close of Rs 312.40 on 27 October 2016.

Century Enka manufactures polyester filament yarn, nylon filament yarn, polyester partially oriented yarn, polyester and nylon chips of industrial and fabric grade and nylon industrial yarn and nylon tyre cord fabrics.

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