Sintex Industries slumps as Blackrock offloads shares

Sintex Industries tumbled 5.98% to Rs 29.85 at 12:47 IST on BSE after Blackrock Funds International Opportunities Portfolio sold 53.56 lakh shares of the company at Rs 33.11 per share in a bulk deal on the NSE yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 135.07 points or 0.42% at 31,879.12. The S&P BSE Small-Cap index declined 101.57 points or 0.64% at 15,802.47.

On the BSE, 66.83 lakh shares were traded on the counter so far as against the average daily volumes of 45.03 lakh shares in the past one quarter. The stock had hit a high of Rs 31.50 and a low of Rs 27.70 so far during the day. The stock had hit a 52-week high of Rs 38.55 on 20 July 2017 and a 52-week low of Rs 12.04 on 12 August 2016.

The stock had outperformed the market over the past one month till 8 August 2017, advancing 20.72% compared with the Sensex's 2.08% rise. The stock had also outperformed the market over the past one quarter, gaining 63.66% as against the Sensex's 6.98% rise. The scrip had also outperformed the market over the past one year, advancing 148.63% as against the Sensex's 13.6% rise.

The small-cap company has equity capital of Rs 55.49 crore. Face value per share is Rs 1.

On a consolidated basis, Sintex Industries reported net profit of Rs 35.07 crore in Q1 June 2017 compared with net loss of Rs 2.55 crore in Q1 June 2016. Net sales rose 177.6% to Rs 687.56 crore in Q1 June 2017 over Q1 June 2016.

Sintex Industries is engaged in spinning, weaving and finishing of textiles.

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