KSB Pumps slides on profit booking

KSB Pumps lost 1.16% to Rs 663 at 15:19 IST on BSE, with the stock sliding on profit taking after Tuesday's rally triggered by the company announcing strong Q1 earnings.

Meanwhile, the S&P BSE Sensex was up 45.64 points or 0.18% at 26,052.94.

On BSE, so far 7,620 shares were traded in the counter as against average daily volume of 4,193 shares in the past one quarter. The stock hit a high of Rs 678 and a low of Rs 656 so far during the day. The stock had hit a 52-week high of Rs 719.25 yesterday, 26 April 2016. The stock had hit a 52-week low of Rs 499 on 20 January 2016.

The small-cap company has equity capital of Rs 34.81 crore. Face value per share is Rs 10.

Shares of KSB Pumps had surged 9.29% to settle at Rs 670.75 yesterday, 26 April 2016, after the company during market hours on that day reported strong Q1 March 2016 results.

KSB Pumps' net profit jumped 141% to Rs 15.45 crore on 10.8% growth in net sales to Rs 208.57 crore in Q1 March 2016 over Q1 March 2015.

KSB Pumps manufactures pumps and valves. The company supplies its products to customers from industry and building services, OEMs, the energy industry, mining and the public sector, power plants, process engineering etc. KSB's products are also used in chemical, petrochemical and other industries to transport aggressive, corrosive, explosive, solids-laden and viscous liquids, industrial and municipal waste water and in the areas of heating and air conditioning.

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