CMC drops after 6-day 12.1% rally

Meanwhile, the BSE Sensex was up 36.11 points or 0.18% at 19,942.52.

On BSE, 4,155 shares were traded in the counter as against average daily volume of 5,867 shares in past one quarter.

The stock hit a high of Rs 1,385.65 and a low of Rs 1,344 so far during the day. The stock had hit record high of Rs 1446.90 on Monday, 14 January 2013. The stock had hit a 52-week low of Rs 685 on 18 May 2012.

The stock had outperformed the market over the past one month till 14 January 2013, surging 17.59% compared with the Sensex's 3.05% rise. The scrip had also outperformed the market in past one quarter, jumping 20.52% as against Sensex's 6.59% surge.

The mid-cap company has equity capital of Rs 30.30 crore. Face value per share is Rs 10.

Shares of CMC had rallied 12.19% in six trading sessions to settle at Rs 1,371.25 on Monday, 14 January 2013, from a recent low of Rs 1,222.20 on 4 January 2013. The stocks had surged 6.26% in two trading sessions to settle at Rs 1,371.25 on Monday, 14 January 2013, from Rs 1,290.40 on Thursday, 10 January 2013, after the company reported strong Q3 results during trading hours on Friday, 11 January 2013.

CMC's consolidated net profit rose 23.6% to Rs 61.06 crore on 7.51% growth in net sales to Rs 492.68 crore in Q3 December 2012 over Q2 September 2012.

CMC had net addition of 473 employees in Q3 December 2012, taking the total employee count to 11,224.

CMC is a leading system engineering and integration company in India and is a subsidiary of Tata Consultancy Services (TCS). CMC operates out of 18 offices and 180 service locations in the country. The company has a wholly-owned subsidiary in US, CMC Americas Inc.

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