Coromandel International corrects on profit booking

Coromandel International fell 3.81% to Rs 318.95 at 14:41 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 284.94 points, or 0.97% to 29,200.51.

On the BSE, 29,000 shares were traded in the counter so far, compared with average daily volumes of 53,342 shares in the past one quarter. The stock had hit a high of Rs 331 and a low of Rs 318.20 so far during the day.

The stock hit a 52-week high of Rs 358.35 on 15 February 2017. The stock hit a 52-week low of Rs 178.35 on 28 March 2016.

The stock had underperformed the market over the past one month till 21 March 2017, falling 0.47% compared with 2.87% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 17.30% as against Sensex's 12.36% rise.

The mid-cap company has equity capital of Rs 29.17 crore. Face value per share is Re 1.

Shares of Coromandel International rose 5.09% in four trading sessions to settle at Rs 331.60 yesterday, 21 March 2017, from its close of Rs 315.55 on 15 March 2017.

On a consolidated basis, net profit of Coromandel International rose 38.40% to Rs 111.81 crore on 18.45% decline in net sales to Rs 2224.92 crore in Q3 December 2016 over Q3 December 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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