RSWM drops on profit taking

RSWM lost 3.01% to Rs 380 at 14:35 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 102.10 points or 0.3% at 33,710.65. The S&P BSE Small-Cap index declined 1.1%, underperforming the Sensex.

On the BSE, 1,259 shares were traded on the counter so far as against average daily volumes of 7,408 shares in the past one quarter. The stock had hit a high of Rs 396.75 and a low of Rs 374.60 so far during the day. The stock had hit a record high of Rs 510 on 6 February 2017 and a 52-week low of Rs 302.15 on 29 September 2017.

The stock had outperformed the market over the past one month till 1 January 2018, gaining 12.42% compared with the Sensex's 2.98% rise. The stock had also outperformed the market over the past one quarter, advancing 27.02% as against the Sensex's 8.08% rise. The scrip had, however, underperformed the market over the past one year, sliding 11.96% as against the Sensex's 26.99% rise.

The small-cap company has equity capital of Rs 23.55 crore. Face value per share is Rs 10.

Shares of RSWM had rallied 8.41% in the preceding four trading sessions to settle at Rs 391.80 yesterday, 1 January 2018, from its closing of Rs 361.40 on 26 December 2017.

RSWM reported net loss of Rs 2.48 crore in Q2 September 2017 compared with net profit of Rs 26.98 crore in Q2 September 2016. Net sales declined 7.7% to Rs 686.17 crore in Q2 September 2017 over Q2 September 2016.

RSWM is engaged in the manufacturing, spinning, weaving and processing of manmade textile fabrics.

Powered by Capital Market - Live News