Saint-Gobain Sekurit slips after shutting Bhosari plant

Saint-Gobain Sekurit India fell 1.17% to Rs 42.10 at 9:29 IST on BSE after the company said it shut the Bhosari plant from 30 November 2015, as it was economically unviable to continue the operations of this plant.

The announcement was made after market hours yesterday, 30 November 2015.

Meanwhile, the BSE Sensex was up 73.34 points, or 0.28%, to 26,219.01.

On BSE, so far 13,000 shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 42.80 and a low of Rs 41.95 so far during the day. The stock hit a 52-week high of Rs 54.50 on 3 August 2015. The stock hit a 52-week low of Rs 32.60 on 9 February 2015.

The stock had outperformed the market over the past one month till 30 November 2015, sliding 1.73% compared with 1.92% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.94% as against Sensex's 0.93% decline.

The small-cap company has an equity capital of Rs 91.11 crore. Face value per share is Rs 10.

Saint-Gobain Sekurit India said it closed the Bhosari plant in Pune with effect from the close of business hours on 30 November 2015, as it was economically unviable to continue the operations of this plant.

Saint-Gobain Sekurit India reported net loss of Rs 2.33 crore in Q2 September 2015 as against net profit of Rs 2.88 crore in Q2 September 2014. Net sales rose 7.74% to Rs 38.84 crore in Q2 September 2015 over Q2 September 2014.

Saint-Gobain Sekurit India supplies automotive glazing and modular components for the global vehicle manufacturing segment and the replacement market.

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