Mcnally Bharat tanks after posting poor Q2 results

Mcnally Bharat Engineering Company hit 5% lower circuit at Rs 55.35 at 14:50 IST on BSE after the company reported net loss of Rs 135.36 crore in Q2 September 2017 compared with net loss of Rs 198.54 crore in Q2 September 2016.

Total income dropped 3.87% to Rs 430.44 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during market hours today, 15 November 2017.

Meanwhile, the S&P Sensex was down 200.45 points or 0.61% at 32,741.42. The S&P Small-Cap index was down 277.42 points or 1.58% at 17,262.18, underperforming the Sensex.

More than usual volumes were traded on the counter. On the BSE, 49,535 shares were traded on the counter so far as against the average daily volumes of 14,728 shares in the past one quarter. The stock was locked at a low of Rs 55.30 in intraday trade. The stock had hit a high of Rs 57.80 so far during the day. The stock had hit a 52-week high of Rs 79.50 on 31 July 2017 and a 52-week low of Rs 37.60 on 30 May 2017.

The stock had underperformed the market over the past one month till 14 November 2017, falling 3.08% compared with 1.57% rise in the Sensex. The scrip had also underperformed the market in the past one quarter, dropping 11.08% as against Sensex's 4.75% rise. The scrip had also underperformed the market in the past one year, gaining 2.56% as against Sensex's 22.83% rise.

The small-cap company has equity capital of Rs 57.39 crore. Face value per share is Rs 10.

McNally Bharat Engineering Company is a engineering company engaged in providing turnkey solutions in the areas of power, steel, aluminum, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, cement, oil & gas, civic and industrial water supply etc.

Powered by Capital Market - Live News