Innoventive Industries surges as net loss narrows in Q3

Innoventive Industries rose 5.14% to Rs 15.14 at 14:28 IST on BSE after the company reported net loss of Rs 9.36 crore in Q3 December 2014, lower than net loss of Rs 73.20 crore in Q3 December 2013.

The Q3 result was announced after market hours yesterday, 19 February 2015.

Meanwhile, the S&P BSE Sensex was down 140.81 points or 0.48% at 29,321.46.

On BSE, so far 2,250 shares were traded in the counter as against average daily volume of 13,950 shares in the past one quarter.

The stock hit a high of Rs 15.25 and a low of Rs 15.10 so far during the day. The stock had hit a 52-week high of Rs 27.40 on 27 June 2014. The stock had hit a 52-week low of Rs 11 on 3 March 2014.

The stock had underperformed the market over the past one month till 19 February 2015, sliding 7.1% compared with Sensex's 4.25% rise. The scrip had also underperformed the market in past one quarter, declining 10% as against Sensex's 5.1% rise.

The small-cap company has equity capital of Rs 59.64 crore. Face value per share is Rs 10.

Innoventive Industries' net sales rose 16.8% to Rs 90.33 crore in Q3 December 2014 over Q3 December 2013.

Innoventive Industries is a multi-product company catering to applications in diverse sectors such as automobile, boiler heat exchangers, energy etc.

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