Dhunseri Petrochem declines after reverse turnaround in Q4

Dhunseri Petrochem slumped 11.41% to Rs 85 at 12:12 IST on BSE after the company reported net loss of Rs 69.62 crore in Q4 March 2017, compared with net profit of Rs 21.33 crore in Q4 March 2016.

The result was announced after market hours yesterday, 22 May 2017.

Meanwhile, The S&P BSE Sensex was down 168.93 points, or 0.55% at 30,402.04. The S&P BSE Small-Cap index was down 313.03 points, 2.08% at 14,741.11.

High volumes were witnessed on the counter. On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 16,506 shares in the past one quarter. The stock had hit a high of Rs 94.10 and a low of Rs 80 so far during the day.

The stock had hit a 52-week high of Rs 103.95 on 17 May 2017 and hit a 52-week low of Rs 68.10 on 16 August 2016. The stock had outperformed the market over the past one month till 22 May 2017, advancing 4.98% compared with the Sensex's 4.11% rise. The scrip had also outperformed the market over the past one quarter advancing 25.92% as against the Sensex's 5.91% rise.

The small-cap company has equity capital of Rs 35.02 crore. Face value per share is Rs 10.

Dhunseri Petrochem's total income fell 7.18% to Rs 5.82 crore in Q4 March 2017 over Q4 March 2016.

Dhunseri Petrochem, formerly Dhunseri Petrochem & Tea, is a manufacturer of polyethylene terephthalate (PET) resin in India.

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