Gujarat Fluorochemicals drops to 52-week low after poor Q1 results

Gujarat Fluorochemicals tumbled 7.01% to Rs 209 at 11:30 IST on BSE after consolidated net profit fell 68.8% to Rs 55.36 crore on 14.5% decline in net sales to Rs 682.68 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced after market hours on Wednesday, 14 August 2013. The stock market was closed on Thursday, 15 August 2013 on account of Independence Day.

Meanwhile, the S&P BSE Sensex was down 488.21 points or 2.52% at 18,879.38.

On BSE, 2,317 shares were traded in the counter as against average daily volume of 9,896 shares in the past one quarter.

The stock hit a low of Rs 209 so far during the day, which is also its 52-week low for the counter. The stock hit a high of Rs 221 so far during the day. The stock had hit a 52-week high of Rs 398.85 on 1 October 2012.

The stock had underperformed the market over the past one month till 14 August 2013, sliding 20.24% compared with the Sensex's 2.96% fall. The scrip had also underperformed the market in past one quarter, declining 21.48% as against Sensex's 1.8% fall.

The small-cap company has equity capital of Rs 10.99 crore. Face value per share is Re 1.

Gujarat Fluorochemicals (GFL) is a part of INOX Group. The company has interests in diverse businesses, including industrial gases, refrigerants, chemicals and carbon credits. It owns and operates an entertainment business through its 65.62% subsidiary, INOX Leisure (as per the shareholding pattern as on 30 June 2013). INOX Leisure is engaged in setting up and operating INOX brand of multiplex cinema theaters.

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