Firstsource Solutions drops on profit booking

Firstsource Solutions fell 3.95% to Rs 36.50 at 14:33 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 364.87 points, or 1.15% at 31,385.95. The S&P BSE Small-Cap index was down 134.50 points, or 0.85% at 15,683.05.

High volumes were witnessed on the counter. On the BSE, 8.55 lakh shares were traded on the counter so far as against the average daily volumes of 5.93 lakh shares in the past one quarter. The stock had hit a high of Rs 38.20 and a low of Rs 36.20 so far during the day. The stock had hit a 52-week high of Rs 49.30 on 13 February 2017 and a 52-week low of Rs 30.40 on 15 June 2017.

The stock had outperformed the market over the past one month till 28 August 2017, advancing 7.34% compared with the Sensex's 1.73% fall. The scrip had also outperformed the market over the past one quarter gaining 11.27% as against the Sensex's 2.33% rise. The scrip had, however, underperformed the market over the past one year declining 11.32% as against the Sensex's 14.28% rise.

The small-cap company has equity capital of Rs 681.88 crore. Face value per share is Rs 10.

Shares Firstsource Solutions had rallied 13.26% in the preceding three trading sessions to settle at Rs 38 yesterday, 28 August 2017, from its close of Rs 33.55 on 22 August 2017.

Firstsource Solutions' consolidated net profit rose 0.77% to Rs 65.40 crore on 1.58% decrease in net sales to Rs 850.67 crore in Q1 June 2017 over Q4 March 2017.

Firstsource Solutions is a provider of a range of business process management services across the customer life cycle delivered through transaction processing.

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