India Nippon Electricals tanks after uninspiring Q2 results

India Nippon Electricals slumped 7.47% to Rs 1,251 at 12:49 IST on BSE after net profit rose 4.5% to Rs 11.17 crore on 23% growth in net sales to Rs 117.55 crore in Q2 September 2017 over Q2 September 2016.

The result was announced on Saturday, 4 November 2017.

Meanwhile, the S&P BSE Sensex was up 104.45 points or 0.31% at 33,790.01. The S&P BSE Small-Cap index advanced 125.18 points or 0.7% at 17,981.21, outperforming the Sensex.

On the BSE, 6,166 shares were traded on the counter so far as against average daily volumes of 9,065 shares in the past one quarter. The stock had hit a high of Rs 1,335 and a low of Rs 1,220 so far during the day. The stock had hit a record high of Rs 1,424.80 on 30 October 2017 and a 52-week low of Rs 472 on 27 December 2016.

The stock had outperformed the market over the past one month till 3 November 2017, advancing 25.97% compared with the Sensex's 6.95% rise. The stock had also outperformed the market over the past one quarter, gaining 103.51% as against the Sensex's 4.49% rise. The scrip had also outperformed the market over the past one year, advancing 128.85% as against the Sensex's 22.8% rise.

The small-cap company has equity capital of Rs 11.31 crore. Face value per share is Rs 10.

India Nippon Electricals makes electronic ignition systems for two-wheelers, three wheelers and portable engines.

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