Siyaram Silk Mills tumbles after weak Q1 numbers

Siyaram Silk Mills lost 5.94% to Rs 1,210 at 10:33 IST on BSE after net profit fell 22% to Rs 10.03 crore on 5.6% decline in net sales to Rs 280.44 crore in Q1 June 2016 over Q1 June 2015.

The result was announced on Saturday, 10 September 2016.

Meanwhile, the S&P BSE Sensex was down 423.66 points or 1.47% at 28,373.59.

On BSE, so far 1,813 shares were traded in the counter as against average daily volume of 1,820 shares in the past one quarter. The stock hit a high of Rs 1,270 and a low of Rs 1,170 so far during the day. The stock had hit a 52-week low of Rs 910 on 3 November 2015. The stock had hit a 52-week high of Rs 1,353.25 on 1 September 2016. The stock had outperformed the market over the past one month till 9 September 2016, gaining 21.35% compared with Sensex's 2.54% gain. The scrip had also outperformed the market in past one quarter, advancing 22.11% as against Sensex's 7.6% gain.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Siyaram Silk Mills manufactures and markets textiles, cotton, woollen synthetics and synthetic blends. The company is known for its polyester blended worsted fabrics.

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