JBF Inds slips on profit booking

JBF Industries lost 1.74% to Rs 232 at 11:53 IST on BSE, with the stock sliding after yesterday's rally triggered by Eriska Investment Fund's purchase of bulk shares of the company yesterday, 5 October 2015.

Meanwhile, the S&P BSE Sensex was up 30.50 points or 0.11% at 26,816.05.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 1.44 lakh shares in the past one quarter.

The stock hit a high of Rs 238.10 and a low of Rs 231.50 so far during the day. The stock had hit a 52-week low of Rs 137.50 on 17 October 2014. The stock had hit a record high of Rs 318.40 on 31 July 2015.

The stock had outperformed the market over the past one month till 5 October 2015, surging 12.4% compared with the Sensex's 6.28% rise. The scrip had also outperformed the market in past one quarter, declining 1.25% as against Sensex's 4.65% fall.

The small-cap company has equity capital of Rs 65.50 crore. Face value per share is Rs 10.

Shares of JBF Industries had rallied 6.45% in a single trading session to settle at Rs 236.10 on BSE yesterday, 5 October 2015. Eriska Investment Fund purchased 9.50 lakh shares of JBF Industries at an average price of Rs 224.50 per share in a bulk deal on BSE yesterday, 5 October 2015. Cresta Fund was the seller in this deal.

On consolidated basis, JBF Industries' net profit declined 17.4% to Rs 23.03 crore on 8.8% growth in net sales to Rs 2270.18 crore in Q1 June 2015 over Q1 June 2014.

JBF Industries produces polyester chips for textiles, films and bottles, and polyester partially oriented yarns.

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