Kaveri Seed hits 52-week low after poor Q1 outcome

Kaveri Seed Company dropped 3.72% to Rs 643.10 at 14:43 IST on BSE after consolidated net profit fell 5.19% to Rs 218.43 crore on 19.8% decline in total income to Rs 666.11 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced during market hours today, 13 August 2015.

Meanwhile, the S&P BSE Sensex was up 100.91 points or 0.37% at 27,613.17.

The stock declined on heavy volumes. On BSE, so far 1.76 lakh shares were traded in the counter as against average daily volume of 27,073 shares in the past one quarter.

The stock was volatile. The stock fell as much as 4.98% at the day's low of Rs 634.65 so far during the day, which is a 52-week low for the counter. The stock rose as much as 5.11% at the day's high of Rs 702.10 so far during the day. The stock had hit a record high of Rs 1,077 on 20 March 2015.

The stock had underperformed the market over the past one month till 12 August 2015, sliding 8.44% compared with Sensex's 0.54% fall. The scrip had also underperformed the market in past one quarter, declining 18.3% as against Sensex's 2.36% rise.

The mid-cap company has equity capital of Rs 13.81 crore. Face value per share is Rs 2.

Kaveri Seed Company makes hybrid seeds.

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