Jindal Drilling slides on profit booking

Jindal Drilling & Industries dropped 3.4% to Rs 158.90 at 13:36 IST on BSE, with the stock sliding on profit taking after recent rally.

Meanwhile, the S&P BSE Sensex was down 291.14 points or 0.88% at 32,715.13. The S&P BSE Small-Cap index declined 1.64%, underperforming the Sensex.

On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 55,669 shares in the past one quarter. The stock had hit a high of Rs 162.40 and a low of Rs 156.75 so far during the day. The stock had hit a 52-week high of Rs 235 on 11 January 2018 and a 52-week low of Rs 137.05 on 30 May 2017.

The small-cap company has equity capital of Rs 14.49 crore. Face value per share is Rs 5.

Shares of Jindal Drilling & Industries had rallied 9.67% in the previous three trading sessions to settle at Rs 164.50 yesterday, 22 March 2018, from its close of Rs 150 on 19 March 2018.

Meanwhile, Jindal Drilling and Industries LTD Employees Welfare Trust disposed of 2.20 lakh shares of Jindal Drilling & Industries at Rs 164.43 per share in a bulk deal on the NSE yesterday, 22 March 2018.

Jindal Drilling & Industries reported net loss of Rs 2.30 crore in Q3 December 2017, compared with net profit of Rs 7.65 crore in Q3 December 2016. Net sales declined 67.1% to Rs 35.57 crore in Q3 December 2017 over Q3 December 2016.

Jindal Drilling & Industries is into offshore drilling in India's oil and gas sector. The company's principal operating segments include offshore drilling for oil & gas, horizontal & directional drilling and mud logging services.

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