Munjal Showa drops after weak Q2 results

Munjal Showa lost 3.06% to Rs 174.10 at 12:42 IST on BSE after net profit fell 15.59% to Rs 15.05 crore on 11.84% decline in total income from operations (net) to Rs 369.11 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during market hours today, 30 October 2015.

Meanwhile, the S&P BSE Sensex was up 29.84 points or 0.11% at 26,867.98.

On BSE, so far 20,000 shares were traded in the counter as against average daily volume of 12,683 shares in the past one quarter.

The stock hit a high of Rs 182.80 and a low of Rs 172.50 so far during the day. The stock had hit a 52-week low of Rs 155 on 25 August 2015. The stock had hit a record high of Rs 252 on 5 November 2014.

The stock had underperformed the market over the past one month till 29 October 2015, gaining 3.34% compared with the Sensex's 4.11% rise. The scrip had also underperformed the market in past one quarter, sliding 20.18% as against Sensex's 2.63% fall.

The small-cap company has equity capital of Rs 8 crore. Face value per share is Rs 2.

Munjal Showa is a pioneer in the manufacture of shock absorbers.

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