Redington (India) slips after weak Q1 results

Redington (India) fell 3.39% to Rs 56.95 at 11:30 IST on BSE after consolidated net profit fell 4.1% to Rs 60.85 crore on 12.1% increase in net sales to Rs 6020.09 crore in Q1 June 2013 over Q1 June 2012.

The result was announced after market hours on Friday, 2 August 2013.

Meanwhile, the S&P BSE Sensex was up 104.98 points, or 0.55%, to 19,269.

On BSE, 3,636 shares were traded in the counter as against an average daily volume of 37,181 shares in the past one quarter.

The stock hit a high of Rs 61.15 and a low of Rs 55.80 so far during the day. The stock had hit a 52-week low of Rs 52.10 on 25 July 2013. The stock had hit a 52-week high of Rs 92.80 on 18 December 2012.

The stock had underperformed the market over the past one month till 2 August 2013, sliding 16.97% compared with the Sensex's 1.54% fall. The scrip had also underperformed the market in past one quarter, sliding 27.36% as against Sensex's 2.90% fall.

The small-cap company has an equity capital of Rs 79.86 crore. Face value per share is Rs 2.

Redington is the largest supply chain solution provider in emerging markets. As a group, Redington is present in India, Middle East,Africa, Turkey, Srilanka, Bangladesh and the Commonwealth of Independent States (CIS) countries.

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