DE Nora India tumbles on profit selling

DE Nora India hit a lower circuit limit of 5% at Rs 572.85 at 15:00 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 282.64 points, or 0.82% to 34,014.83.

On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 31,925 shares in the past one quarter. The stock had hit a high of Rs 633.15 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 572.85 so far during the day. The stock hit a 52-week low of Rs 217.15 on 14 March 2017.

The stock had outperformed the market over the past 30 days till 15 February 2018, rising 110.29% compared with 2.24% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 137.59% as against Sensex's 2.86% rise. The scrip had also outperformed the market in past one year, rising 173.78% as against Sensex's 21.19% rise.

The small-cap company has equity capital of Rs 5.31 crore. Face value per share is Rs 10.

Shares of DE Nora India surged 77.54% in six trading sessions to settle at Rs 603 yesterday, 15 February 2018, from its close of Rs 339.65 on 6 February 2018.

Net profit of DE Nora India surged 1124.32% to Rs 4.53 crore on 165.74% spurt in net sales to Rs 13.42 crore in Q3 December 2017 over Q3 December 2016.

De Nora India is a leader in the fields of cathode & anode for chlor-alkali industry, electrochlorinators and cathodic protection systems.

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