Kemrock Industries hits 52-week high as net loss narrows in Q3

Kemrock Industries & Exports was locked at 5% upper circuit at Rs 52.70 at 14:19 IST on BSE after the company reported a net loss of Rs 22.51 crore in Q3 June 2014, lower than net loss of Rs 169.77 crore in Q3 June 2013.

The Q3 result was announced on Saturday, 30 August 2014.

Meanwhile, the S&P BSE Sensex was up 203.84 points or 0.77% at 26,841.95.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 13,960 shares over the past one quarter.

The stock opened with an upward gap surging by the maximum permissible level of 5% and remained locked at 5% level at Rs 52.70 so far in the day, which is a 52-week high. The stock had hit a 52-week low of Rs 13 on 20 December 2013.

The stock outperformed the market over the past one month till 28 August 2014, jumping 82.21% compared with Sensex's 2.49% rise. The scrip had also outperformed the market in past one quarter, galloping 73.4% as against Sensex's 8.48% rise.

The small-cap company has equity capital of Rs 20.33 crore. Face value per share is Rs 10.

Kemrock Industries & Exports' net sales declined 85.9% to Rs 10.59 crore in Q3 June 2014 over Q3 June 2013.

Kemrock Industries & Exports manufactures FRP/GRP (Composite) products for major industrial sectors such as aerospace, defense, renewable energy, wind energy, railways, chemical processing, oil and gas, water and waste water management, infrastructure, construction, electrical and electronics, marine, telecommunications among others.

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