Nitin Fire Protection Industries was locked at 5% upper circuit at Rs 9.33 at 12:43 IST on BSE, with the stock recovering on bargain hunting after recent slide triggered by the company reporting reverse turnaround in Q4 results.
Meanwhile, the S&P BSE Sensex was up 101.76 points, or 0.33% at 31,197.46. The S&P BSE Small-Cap index was up 131.89 points, or 0.85% at 15,585.95.
High volumes were witnessed on the counter. On the BSE, 21.01 lakh shares were traded on the counter so far as against the average daily volumes of 3.23 lakh shares in the past two weeks. The stock had hit a high of Rs 9.33 so far during the day. The stock hit low of Rs 8.45 so far during the day, which is also its 52-week low. The stock had hit a 52-week high of Rs 37.35 on 1 November 2016.
The stock had underperformed the market over the past one month till 12 June 2017, declining 59.86% compared with the Sensex's 3.01% rise. The scrip had also underperformed the market over the past one quarter declining 60.92% as against the Sensex's 7.43% rise. The scrip had also underperformed the market over the past one year declining 71.64% as against the Sensex's 16.74% 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 declined 54.53% in the preceding eleven trading sessions to settle at Rs 8.89 yesterday, 12 June 2017, from its close of Rs 19.55 on 26 May 2017. The slide was triggered by the company reporting reverse turnaround in Q4 March 2017 results on 31 May 2017.
Nitin Fire Protection Industries reported consolidated net loss of Rs 109.84 crore in Q4 March 2017, compared with net profit of Rs 11.34 crore in Q4 March 2016. Net sales fell 98.91% to Rs 3.36 crore in Q4 March 2017 over Q4 March 2016.
Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.
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