RCF slides after weak Q2 result

Rashtriya Chemicals & Fertilizers lost 3.83% to Rs 89.05 at 12:51 IST on BSE after net profit dropped 74.94% to Rs 10.79 crore on 1.4% rise in net sales to Rs 1802.36 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours on Friday, 10 November 2017.

Meanwhile, the S&P BSE Sensex was down 99.90 points, or 0.3%, to 33,214.66. The S&P BSE Mid-Cap index was up 24.86 points, or 0.15%, to 16,587.55.

On the BSE, 3.54 lakh shares were traded in the counter so far, compared with average daily volume of 8.52 lakh shares in the past one quarter. The stock had hit a high of Rs 91.80 and a low of Rs 88.60 so far during the day. The stock had hit a 52-week high of Rs 106.45 on 4 August 2017. The stock had hit a 52-week low of Rs 40.50 on 21 November 2016.

The stock had underperformed the market over the past one month till 10 November 2017, rising 1.93% compared with 4.35% gains in the Sensex. The scrip had also underperformed the market in past one quarter, declining 0.48% as against Sensex's 5.66% rise. The scrip had, however, outperformed the market in past one year, surging 106.70% as against Sensex's 21.07% rise.

The mid-cap company has an equity capital of Rs 551.69 crore. Face value per share is Rs 10.

State-run Rashtriya Chemicals and Fertilizers (RCF) is one of the leading producers of urea in India. The Government of India (GoI) currently holds 75% stake in RCF (as per the shareholding pattern as on 30 September 2017).

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