Coromandel International corrects on profit booking

Coromandel International fell 3.13% to Rs 275 at 11:20 IST on BSE on profit booking after a recent rally.

Meanwhile, the BSE Sensex was down 149.03 points, or 0.56%, to 26,598.15.

On the BSE, so far 12,000 shares were traded in the counter, compared with average daily volumes of 84,840 shares in the past one quarter. The stock had hit a high of Rs 284.50 and a low of Rs 273.95 so far during the day.

The stock hit a 52-week high of Rs 293 on 1 November 2016. The stock hit a 52-week low of Rs 146.35 on 12 February 2016. The stock had outperformed the market over the past 30 days till 9 December 2016, rising 9.91% compared with the 2.80% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.45% as against Sensex's 7.12% decline.

The mid-cap company has equity capital of Rs 29.16 crore. Face value per share is Re 1.

Shares of Coromandel International rose 12.95% in four trading sessions to settle at Rs 283.90 on Friday, 9 December 2016, from its close of Rs 251.35 on 5 December 2016.

On a consolidated basis, net profit of Coromandel International rose 25.89% to Rs 213.39 crore on 1.01% decline in net sales to Rs 3502.94 crore in Q2 September 2016 over Q2 September 2015.

Coromandel International, India's second largest phosphatic fertilizer player, is in the business segments of fertilizers, specialty nutrients, crop protection and retail. The Company manufactures a wide range of fertilizers.

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