Goa Carbon slides after temporary shutdown of Bilaspur plant

Goa Carbon lost 4.92% to Rs 86 at 12:35 IST on BSE after the company said it has temporarily shutdown operations at its Bilaspur plant in Chattisgarh from 22 June 2016, due to maintenance work.

The announcement was made after market hours yesterday, 23 June 2016.

Meanwhile, the S&P BSE Sensex was down 1,004.76 points or 3.72% at 25,997.46.

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 71,649 shares in the past one quarter. The stock hit a high of Rs 87.75 and a low of Rs 85.30 so far during the day. The stock had hit a 52-week high of Rs 107.45 on 8 June 2016. The stock had hit a 52-week low of Rs 62.10 on 17 February 2016. The stock had outperformed the market over the past one month till 23 June 2016, advancing 15.52% compared with Sensex's 7.02% rise. The scrip had also outperformed the market in past one quarter, gaining 24.76% as against Sensex's 6.57% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Goa Carbon said that there would not be any financial impact due to the temporary shutdown of the company's Bilaspur unit as there is sufficient inventory to service the orders in hand.

Goa Carbon reported net profit of Rs 0.41 crore in Q4 March 2016, compared with net loss of Rs 7.62 crore in Q4 March 2015. Net sales rose 16.5% to Rs 67.01 crore in Q4 March 2016 over Q4 March 2015.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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