Monsanto India drops after weak Q1 results

Monsanto India fell 2.7% to Rs 3,209.20 at 10:30 IST on BSE after net profit declined 11.6% to Rs 62.79 crore on 0.2% growth in net sales to Rs 259.83 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced at the fag end of trading hours yesterday, 3 August 2015. The stock had risen 1.21% to settle at Rs 3,298.35 on that day.

Meanwhile, the S&P BSE Sensex was down 138.36 points or 0.49% at 28,048.70.

On BSE, so far 1,093 shares were traded in the counter as against average daily volume of 4,982 shares in the past one quarter.

The stock hit a high of Rs 3,317 and a low of Rs 3,200 so far during the day. The stock had hit a 52-week low of Rs 1,863.40 on 13 August 2014. The stock had hit a record high of Rs 3,755.95 on 2 February 2015.

The stock had outperformed the market over the past one month till 3 August 2015, surging 9.43% compared with Sensex's 0.34% rise. The scrip had also outperformed the market in past one quarter, jumping 15.24% as against Sensex's 4.35% rise.

The mid-cap firm has equity capital of Rs 17.26 crore. Face value per share is Rs 10.

Monsanto India, a subsidiary of the Monsanto Company, USA is a seed company focusing on maize and agricultural productivity. Monsanto Company, USA, holds 72.14% stake in Monsanto India (as per the shareholding pattern as on 30 June 2015).

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