Omkar Speciality nosedives after reporting losses in Q3

Omkar Speciality Chemicals was locked at a 20% lower circuit at Rs 54.20 at 14:00 IST on BSE after company reported net loss of Rs 5.66 crore in Q3 December 2017 compared with net loss of Rs 15.43 crore in Q3 December 2016.

The result was announced during market hours today, 6 February 2018.

Net sales dropped 72.5% to Rs 22.59 crore in Q3 December 2017 over Q3 December 2016.

The stock has dropped 26.76% in five sessions to its ruling price, from a close of Rs 74 on 30 January 2018.

Meanwhile, the S&P BSE Sensex was down 497.14 points or 1.43% at 34,260.02. The S&P BSE Small-Cap index declined 390.45 points or 2.2% at 17,391.34, underperforming the Sensex.

More than usual volumes were witnessed on the counter. On the BSE, 92,296 shares were traded on the counter so far as against the average daily volumes of 33,635 shares in the past one quarter. The stock was locked at Rs 54.20 so far during the day, which was also a 52-week low for the stock. The stock had hit a 52-week high of Rs 120.05 on 14 July 2017.

The stock lost 14.03% over the past one month till 5 February 2018, underperforming the Sensex's 1.77% rise. The scrip had also underperformed the market in past one quarter, dropping 16.57% as against Sensex's 3.18% rise. The scrip had also underperformed the market in past one year, declining 12.32% as against Sensex's 23.08% rise.

The small-cap company has equity capital of Rs 20.58 crore. Face value per share is Rs 10.

Omkar Speciality Chemicals is mainly engaged in the manufacture and sale of specialty chemicals and intermediates for chemical and allied industries.

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