Symphony reverses direction after 3-day 41.8% rally

Symphony fell 2.2% to Rs 317.25 at 10:54 IST on BSE, with the stock sliding on profit booking after 3-day 41.87% rally triggered by the company reporting strong Q4 earnings.

Meanwhile, the BSE Sensex was down 159.08 points or 0.92% to 17,065.28.

On BSE, 23,000 shares were traded in the counter as against average daily volume of 23,234 shares in the past one quarter.

The stock hit a high of Rs 328.70 and a low of Rs 315.85 so far during the day. The stock had hit a 52-week low of Rs 173 on 4 June 2012. The stock had hit a record high of Rs 1,250 on 15 February 2012.

The small-cap stock had outperformed the market over the past one month till 2 August 2012, jumping 60.4% compared with the Sensex's 1% fall. The scrip had also outperformed the market in past one quarter, surging 42.16% as against Sensex's 0.45% fall.

The company has an equity capital of Rs 7 crore. Face value per share is Rs 2.

Shares of Symphony galloped 41.87% in three trading sessions to settle at Rs 324.40 on Thursday, 2 August 2012, from a recent low of Rs 228.65 30 August 2012, after the company reported strong Q4 earnings during trading hours on 31 July 2012.

Symphony's net profit jumped 67.5% to Rs 19.67 crore on a 51.7% growth in net sales to Rs 87.06 crore in Q4 June 2012 over Q4 June 2011.

On a consolidated basis, Symphony's net profit rose 3.7% to Rs 53.10 crore on 7.9% growth in net sales to Rs 313.39 crore in the year ended 30 June 2012 over the year ended 30 June 2011.

Symphony is a leading air-cooler maker catering to 60 countries across the globe.

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