Plastiblends India drops after recent sharp rally

Plastiblends India fell 1.67% to Rs 585.45 at 14:53 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 252.42 points, or 0.81% at 30,885.79. The S&P BSE Small-Cap index was down 265.86 points, or 1.73% at 15,116.04.

On the BSE, 4,639 shares were traded on the counter so far as against the average daily volumes of 3,186 shares in the past one quarter. The stock had hit a high of Rs 603.80 and a low of Rs 579 so far during the day. The stock had hit a record high of Rs 630 on 22 June 2017 and a 52-week low of Rs 399 on 27 March 2017.

The stock had outperformed the market over the past one month till 23 June 2017, advancing 22.08% compared with the Sensex's 2.55% rise. The scrip had also outperformed the market over the past one quarter advancing 27.48% as against the Sensex's 6.16% rise. The scrip had also outperformed the market over the past one year advancing 38.77% as against the Sensex's 15.32% rise.

The small-cap company has equity capital of Rs 6.50 crore. Face value per share is Rs 5.

Shares of Plastiblends India had rallied 12.55% in the preceding three trading sessions to settle at Rs 595.40 on Friday, 23 June 2017, from its close of Rs 529 on 20 June 2017.

Plastiblends India's net profit fell 4.2% to Rs 9.02 crore on 6.6% increase in net sales to Rs 155.43 crore in Q4 March 2017 over Q4 March 2016.

Plastiblends India is engaged in the manufacturing of masterbatches.

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