Jindal Poly Films slides after poor Q1 show

Jindal Poly Films lost 4.08% to Rs 412.10 at 10:48 am on the Bombay Stock Exchange (BSE), after its consolidated net profit fell 39.3% to Rs 98.84 crore. Net sales declined 7.9% to Rs 1,777.03 crore in June 2016 over the previous corresponding period. The result was announced after market hours on Tuesday.

Meanwhile, the S&P BSE Sensex was down 16.46 points or 0.06% at 28,961.56. On the BSE, so far 18,000 shares were traded in the counter as against average daily volume of 16,156 shares in the past one quarter. The stock hit a high of Rs 418 and a low of Rs 404 so far during the day.

Jindal Poly had underperformed the market over the past one month till 6 September 2016, advancing 2.33% compared with 3.2% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 3.92% as against Sensex's 8.22% rise.

Jindal Poly Films is a flagship company of B C Jindal group and is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.


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