Sharda Cropchem nosedives after poor Q4 results

Sharda Cropchem tumbled 7.43% to Rs 504 at 10:44 IST on BSE after consolidated net profit fell 1.64% to Rs 98.68 crore on 11.62% growth in total income to Rs 596.47 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 22 May 2017.

Meanwhile, the S&P BSE Sensex was down 139.52 points or 0.46% at 30,431.45. The S&P BSE Mid-Cap index was down 275.92 points or 1.91% at 14,191.18.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 6,250 shares in the past one quarter. The stock had hit a high of Rs 541.50 and a low of Rs 499 so far during the day.

The stock had hit a record high of Rs 567.80 on 19 May 2017 and a 52-week low of Rs 276 on 24 May 2016. It had outperformed the market over the past one month till 22 May 2017, advancing 5.44% compared with the Sensex's 4.11% rise. The scrip had also outperformed the market over the past one quarter, gaining 16.97% as against the Sensex's 5.91% rise.

The mid-cap company has equity capital of Rs 90.22 crore. Face value per share is Rs 10.

Sharda Cropchem is engaged in the manufacture of agrochemicals and conveyor belts.

Powered by Capital Market - Live News