Maharashtra Seamless drops after weak Q3 outcome

Maharashtra Seamless lost 3.88% to Rs 143.50 at 13:54 IST on BSE after net profit dropped 85.9% to Rs 4.95 crore on 45.6% fall in net sales to Rs 190.02 crore in Q3 December 2015 over Q3 December 2014.

The announcement was made after market hours yesterday, 1 February 2016.

Meanwhile, the S&P BSE Sensex was down 97.90 points or 0.38% at 24,729.66

On BSE, so far 3,260 shares were traded in the counter as against average daily volume of 5,552 shares in the past one quarter. The stock hit a high of Rs 148 and a low of Rs 140 so far during the day. The stock had hit a 52-week high of Rs 224.85 on 20 February 2015. The stock had hit a 52-week low of Rs 138.50 on 29 September 2015. The stock had underperformed the market over the past one month till 1 February 2016, sliding 14.29% compared with 5.11% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 2.13% as against Sensex's 6.87% fall.

The small-cap company has equity capital of Rs 33.50 crore. Face value per share is Rs 5.

Maharashtra Seamless manufactures seamless pipes & tubes.

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