Shalimar Paints jumps after re-commissioning Chennai plant

Shalimar Paints rose 2.59% to Rs 224 at 12:25 IST on BSE after the company said that it re-commissioned its Chennai plant and started its commercial production from 4 September 2017.

The announcement was made during trading hours today, 5 September 2017.

Meanwhile, the S&P BSE Sensex was down 20.74 points, or 0.07% to 31,681.51.

On the BSE, 13,000 shares were traded in the counter so far, compared with average daily volumes of 9,519 shares in the past one quarter. The stock had hit a high of Rs 229.25 and a low of Rs 220 so far during the day. The stock hit a record high of Rs 320.30 on 17 May 2017. The stock hit a 52-week low of Rs 118.45 on 21 November 2016.

The stock had outperformed the market over the past one month till 4 September 2017, rising 0.97% compared with 1.93% decline in the Sensex. The scrip had underperformed the market in past one quarter, falling 12.64% as against Sensex's 1.64% rise. The scrip had underperformed the market in past one year, rising 6.36% as against Sensex's 11.11% rise.

The small-cap company has equity capital of Rs 3.79 crore. Face value per share is Rs 2.

Shalimar Paints reported net loss of Rs 9.71 crore in Q1 June 2017 as against net profit of Rs 0.75 crore in Q1 June 2016. Net sales declined 20.59% to Rs 73.70 crore in Q1 June 2017 over Q1 June 2016.

Shalimar Paints is engaged in manufacturing paints, varnishes, enamels or lacquers.

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