Kajaria Ceramics tanks after weak quarterly numbers

Kajaria Ceramics tumbled 6.36% to Rs 632 at 15:18 IST on BSE after consolidated net profit fell 3.36% to Rs 53.11 crore on 2.39% decline in total income to Rs 662.93 crore in Q3 December 2017 over Q3 December 2016.

The result was announced during market hours today, 31 January 2018.

Meanwhile, the S&P BSE Sensex was down 70.07 points or 0.19% at 35,963.66. The S&P BSE Mid-Cap index dropped 1.29%, underperforming the Sensex.

On the BSE, 73,000 shares were traded on the counter so far as against average daily volumes of 1.07 lakh shares in the past one quarter. The stock had hit a high of Rs 676.50 and a low of Rs 627.05 so far during the day. The stock had hit a record high of Rs 787.55 on 10 May 2017 and a 52-week low of Rs 545.05 on 2 March 2017.

The stock had underperformed the market over the past one month till 30 January 2018, sliding 7.41% compared with the Sensex's 5.8% rise. The stock had also underperformed the market over the past one quarter, declining 1.34% as against the Sensex's 8.32% rise. The scrip had also underperformed the market over the past one year, surging 14.31% as against the Sensex's 29.39% rise.

The mid-cap company has equity capital of Rs 15.89 crore. Face value per share is Rs 1.

The company's board approved re-appointment of Chetan Kajaria and Rishi Kajaria as the Joint Managing Directors of the company for a further period of 3 years effective from 1 April 2018, subject to approval of the shareholders of the company.

The board approved expansion of capacity of manufacturing polished vitrified tiles at the existing facility at Malutana, Rajasthan by 5.60 million square meter (MSM) per annum making total polished vitrified tiles capacity to 12.10 MSM per annum.

Kajaria Ceramics manufactures ceramic/vitrified tiles.

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