Shakti Pumps slips on profit booking

Shakti Pumps (India) was locked at 5% lower circuit at Rs 229.95 at 12:03 IST on BSE, with the stock sliding on profit booking after recent steep rally after the company reported strong Q1 earnings.

The Q1 result was announced during market hours today, 14 July 2014.

Meanwhile, the S&P BSE Sensex was down 56.62 points or 0.23% at 24,967.73.

On BSE, so far 39,000 shares were traded in the counter as against average daily volume of 96,995 shares in the past one quarter.

The stock hit a high of Rs 245.70 so far during the day. The stock hit a 52-week low of Rs 38 on 19 August 2013. The stock hit a record high of Rs 246.35 on 11 July 2014.

The stock had outperformed the market over the past one month till 11 July 2014, surging 52.38% compared with Sensex's 1.76% fall. The scrip had also outperformed the market in past one quarter, jumping 164.97% as against Sensex's 10.59% rise.

The small-cap company has equity capital of Rs 15.24 crore. Face value per share is Rs 10.

Shares of Shakti Pumps (India) had witnessed a pre-result rally. The stock had galloped 26% in six trading sessions to settle at Rs 242.05 on Friday, 11 July 2014, from a recent low of Rs 192.10 on 3 July 2014.

Shakti Pumps (India)'s net profit jumped 55.73% to Rs 6.79 crore on 36.18% growth in total income from operations to Rs 69.70 crore in Q1 June 2014 over Q1 June 2013.

Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.

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