Gravity grips Emami Paper Mills after dismal Q2 result

Emami Paper Mills fell 1.47% to Rs 167.50 at 11:55 IST on BSE after net profit dropped 97.24% to Rs 0.51 crore on 3.19% rise in net sales to Rs 314.46 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 26 October 2017.

Meanwhile, the S&P BSE Sensex was up 69.26 points or 0.21% at 33,216.39. The S&P BSE Mid-Cap index was up 91.21 points or 0.53% at 17,347.97.

On the BSE, 8,786 shares were traded in the counter so far, compared with average daily volumes of 14,956 shares in the past one quarter. The stock had hit a high of Rs 174.70 and a low of Rs 160 so far during the day. The stock hit a record high of Rs 184.50 on 31 August 2017. The stock hit a 52-week low of Rs 95 on 23 May 2017.

The stock had underperformed the market over the past one month till 26 October 2017, rising 0.18% compared with 6.38% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 38.38% as against Sensex's 2.59% rise. The scrip had also outperformed the market in past one year, advancing 45.18% as against Sensex's 18.74% rise.

The small-cap company has equity capital of Rs 12.10 crore. Face value per share is Rs 2.

Emami Paper Mills, a part of Emami Group, specializes in the manufacture of newsprint, writing & printing paper and multilayer coated board.

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