Deep Inds declines on profit taking after strong Q2 earnings

Deep Industries fell 1.45% to Rs 204.50 at 11:54 IST on BSE, with the stock sliding on profit booking after net profit surged 50.6% to Rs 8.01 crore on 34.6% growth in net sales to Rs 34.24 crore in Q2 September 2015 over Q2 September 2014.

The Q2 result was announced on Saturday, 24 October 2015.

Meanwhile, the S&P BSE Sensex was down 21.05 points or 0.08% at 27,449.76.

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 2.29 lakh shares in the past one quarter.

The stock hit a high of Rs 213 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 202.50 so far during the day. The stock had hit a 52-week low of Rs 45 on 27 March 2015.

The stock had outperformed the market over the past one month till 23 October 2015, surging 48.53% compared with Sensex's 6.38% rise. The scrip had also outperformed the market in past one quarter, jumping 60.98% as against Sensex's 3.17% fall.

The small-cap company has equity capital of Rs 29.20 crore. Face value per share is Rs 10.

Shares of Deep Industries had witnessed a pre-result rally. The stock had surged 9.21% in five trading sessions to settle at Rs 207.50 on Friday, 23 October 2015, from a recent low of Rs 190 on 15 October 2015.

Deep Industries is a diversified oil & gas company with business interest in air and gas compression, drilling and work over operations. The company is also into oil & gas exploration and production.

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