Lloyd Electric corrects on profit booking

Lloyd Electric & Engineering fell 4.05% to Rs 189.65 at 14:32 IST on BSE on profit booking after the stock rose 23.57% in the preceding three trading sessions to Rs 197.65 on 8 September 2014, from a recent low of Rs 159.95 on 3 September 2014.

Meanwhile, the BSE Sensex was down 103.60 points, or 0.38%, to 27,216.25.

On BSE, so far 1.17 lakh shares were traded in the counter, compared with an average volume of 87,727 shares in the past one quarter.

The stock hit a high of Rs 199 and a low of Rs 185 so far during the day. The stock hit a 52-week high of Rs 201 on 8 September 2014. The stock hit a 52-week low of Rs 30 on 17 December 2013.

The stock had outperformed the market over the past one month till 8 September 2014, rising 23.49% compared with 7.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 62.94% as against Sensex's 7.57% rise.

The small-cap company has an equity capital of Rs 35.33 crore. Face value per share is Rs 10.

Net profit of Lloyd Electric & Engineering rose 38.66% to Rs 22.02 crore on 42.58% rise in net sales to Rs 533.57 crore in Q1 June 2014 over Q1 June 2013.

Lloyd Electric and Engineering is one of the largest manufacturers of air conditioner coils in India. It also manufactures air conditioners for the Indian railways, metro rail and buses.

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