Foseco India declines on profit booking

Foseco India fell 3.88% to Rs 2,089.85 at 14:30 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 71.42 points, or 0.21% to 33,983.23.

On the BSE, 25,000 shares were traded in the counter so far, compared with average daily volumes of 3,630 shares in the past two weeks. The stock had hit a high of Rs 2,336.15 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1,966 so far during the day. The stock hit a 52-week low of Rs 1,256 on 30 December 2016.

Shares of Foseco India rose 47.20% in nine trading sessions to settle at Rs 2,174.15 yesterday, 27 December 2017, from its close of Rs 1,477.05 on 13 December 2017.

Net profit of Foseco India rose 13.44% to Rs 8.78 crore on 4.23% rise in net sales to Rs 90.34 crore in Q3 September 2017 over Q3 September 2016.

Foseco India is a manufacturer of metallurgical chemicals.

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