Panasonic Carbon drops on profit booking

Panasonic Carbon India Company lost 1.67% to Rs 912 at 12:11 IST on BSE, with the stock reversing its recent rally on profit booking.

Meanwhile, the S&P BSE Sensex was up 49.39 points, or 0.14% to 34,402.18. The S&P BSE Small-Cap index was up 42.39 points, or 0.21% to 19,938.16.

On the BSE, 58,000 shares were traded in the counter so far, compared with average daily volumes of 1.05 lakh shares in the past two weeks. The stock had hit a high of Rs 946.95 in intraday trade today, 9 January 2018, a record high for the stock. The stock had hit a low of Rs 905 so far during the day. The stock had hit a 52-week low of Rs 420 on 29 May 2017.

The small-cap company has equity capital of Rs 4.80 crore. Face value per share is Rs 10.

Shares of Panasonic Carbon India Company had gained 56.01% in seven trading sessions to settle at Rs 927.45 yesterday, 8 January 2018, from its close of Rs 594.45 on 28 December 2017.

Panasonic Carbon India Company's net profit dropped 34.6% to Rs 3.35 crore on 9.3% fall in net sales to Rs 12.12 crore in Q2 September 2017 over Q2 September 2016.

Panasonic Carbon India Company (formerly Indo Matsushita Carbon Co.) is the sole manufacturer of high standard carbon rods in India and a leading manufacturer of carbon rods in the world.

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