Nitin Fire Protection recovers after recent slide

Nitin Fire Protection was locked at 5% upper circuit at Rs 7.77 at 15:19 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 240.59 points or 0.75% at 32,422.81. The S&P BSE Small-Cap index advanced 22.72 points or 0.13% at 16,926.37.

On the BSE, 4.76 lakh shares were traded on the counter so far as against the average daily volumes of 4.55 lakh shares in the past one quarter. The stock had hit a high of Rs 7.77 and a low of Rs 7.03 so far during the day. The stock had hit a 52-week high of Rs 37.35 on 1 November 2016 and a record low of Rs 3.60 on 31 August 2017.

The stock had outperformed the market over the past one month till 12 October 2017, advancing 37.55% compared with the Sensex's 0.07% rise. The stock had, however, underperformed the market over the past one quarter, sliding 7.15% as against the Sensex's 1.19% rise. The scrip had also underperformed the market over the past one year, sliding 71.81% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.

Shares of Nitin Fire Protection Industries had slumped 29.85% in the preceding seven trading sessions to settle at Rs 7.40 yesterday, 12 October 2017, from its close of Rs 10.55 on 3 October 2017.

Nitin Fire Protection Industries reported net loss of Rs 34.20 crore in Q1 June 2017, compared with net loss of Rs 30.83 crore in Q1 June 216. Net sales declined 86.5% to Rs 10.67 crore in Q1 June 2017 over Q1 June 2016.

Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.

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