Deep Industries drops after recent sharp rally

Deep Industries fell 1.18% to Rs 301 at 11:46 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 159.99 points, or 0.52% at 31,216.39. The S&P BSE Small-Cap index was up 11.76 points, or 0.08% at 15,679.

On the BSE, 8,296 shares were traded on the counter so far as against the average daily volumes of 1.81 lakh shares in the past one quarter. The stock had hit a high of Rs 310.90 and a low of Rs 296.15 so far during the day. The stock had hit a record high of Rs 343.70 on 30 March 2017 and a 52-week low of Rs 162.05 on 24 June 2016.

The stock had underperformed the market over the past one month till 16 June 2017, declining 4.27% compared with the Sensex's 1.55% rise. The scrip had also underperformed the market over the past one quarter declining 4.33% as against the Sensex's 4.97% rise. The scrip had, however, outperformed the market over the past one year advancing 72.14% as against the Sensex's 17.08% rise.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Shares of Deep Industries had rallied 11.41% in the preceding two trading sessions to settle at Rs 304.60 on Friday, 16 June 2017, from its closing of Rs 273.40 on 14 June 2017.

Deep Industries' net profit spurted 81.2% to Rs 23.23 crore on 36.5% increase in net sales to Rs 74.90 crore in Q4 March 2017 over Q4 March 2016.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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