Jain Irrigation drops after 4-day 10.3% rally
Meanwhile, the BSE Sensex was down 112.82 points or 0.58% at 19,341.10.
On BSE, 2.20 lakh shares were traded in the counter as against average daily volume of 7.15 lakh shares in the past one quarter.
The stock hit a high of Rs 77.35 and a low of Rs 75.35 so far during the day. The stock hit a 52-week low of Rs 59.50 on 7 September 2012. The stock had hit a 52-week high of Rs 121.60 on 22 February 2012.
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The stock had outperformed the market over the past one month till 20 December 2012, surging 23.98% compared with the Sensex's 6.14% rise. The scrip had also outperformed the market in past one quarter, jumping 15.89% as against Sensex's 6.02% gain.
The mid-cap company has equity capital of Rs 90.98 crore. Face value per share is Rs 2.
Shares of Jain Irrigation Systems had rallied 10.34% in four trading sessions to settle at Rs 77.30 on Thursday, 20 December 2012, from a recent low of Rs 70.05 on 14 December 2012.
Jain Irrigation systems' net profit jumped 213.3% to Rs 36.25 crore on 19.6% decline in net sales to Rs 603.14 crore in Q2 September 2012 over Q2 September 2011.
Jain Irrigation Systems is the largest company in Asia in the field of drip irrigation and second largest in the world. The company has a multi product industrial profile aimed at the farmer community spread largely in the rural and semi-urban areas all over India. The major and substantive portion of the business relates to Micro Irrigation Systems (MIS) and plastic pipes. Other businesses include food processing, onion dehydration, tissue culture, solar appliances and a large training centre devoted to farmer training. The company's global presence spans across 120 countries in 4 continents.
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