Pearl Global Industries declines on profit booking

Pearl Global Industries fell 3.72% to Rs 159.25 at 10:03 IST on BSE, with the stock sliding on profit booking after yesterday's rally.

Meanwhile, the S&P BSE Sensex was down 37.91 points, or 0.12% at 30,920.34. The S&P BSE Small-Cap index was down 15.11 points, or 0.1% at 15,125.97.

On the BSE, 4,404 shares were traded on the counter so far as against the average daily volumes of 7,647 shares in the past one quarter. The stock had hit a high of Rs 165 and a low of Rs 158 so far during the day. The stock had hit a 52-week high of Rs 257.70 on 11 July 2016 and a 52-week low of Rs 110 on 24 March 2017.

The stock had outperformed the market over the past one month till 27 June 2017, advancing 44.96% compared with the Sensex's 0.23% fall. The scrip had also outperformed the market over the past one quarter advancing 46.89% as against the Sensex's 5.89% rise. The scrip had, however, underperformed the market over the past one year declining 23.62% as against the Sensex's 17.25% rise.

The small-cap company has equity capital of Rs 21.66 crore. Face value per share is Rs 10.

Shares of Pearl Global Industries had rallied 9.65% in the preceding one trading session to settle at Rs 165.40 yesterday, 27 June 2017, from its close of Rs 150.85 on 23 June 2017.

Pearl Global Industries' consolidated net profit rose 25.3% to Rs 16.15 crore on 5.1% increase in net sales to Rs 529.12 crore in Q4 March 2017 over Q4 March 2016.

Pearl Global Industries is engaged in the manufacturing and exporting of readymade garments.

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