Nirlon tumbles on profit booking

Nirlon fell 4.72% to Rs 64.55 at 15:08 IST on BSE on profit booking after the stock surged 33.63% in the preceding five trading sessions to Rs 67.75 on 1 April 2014, from a recent low of Rs 50.70 on 25 March 2014.

Meanwhile, the BSE Sensex was up 111.18 points, or 0.50%, to 22,557.62.

On BSE, so far 23,000 shares were traded in the counter, compared with an average volume of 23,020 shares in the past one quarter.

The stock hit a high of Rs 67.90 and a low of Rs 64 so far during the day. The stock hit a 52-week high of Rs 69.65 on 31 March 2014. The stock hit a 52-week low of Rs 32.05 on 11 June 2013.

The stock had outperformed the market over the past one month till 1 April 2014, rising 46.96% compared with the Sensex's 6.28% rise. The scrip had also outperformed the market in past one quarter, rising 45.86% as against Sensex's 6.18% rise.

The small-cap company has an equity capital of Rs 90.12 crore. Face value per share is Rs 10.

Net profit of Nirlon rose 113.15% to Rs 4.54 crore on 29.91% rise in net sales to Rs 47.52 crore in Q3 December 2013 over Q3 December 2012.

Nirlon is the owner of Nirlon Knowledge Park (NKP) in Goregaon (E) Mumbai.

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