Tecpro Systems extends recent slump

Tecpro Systems was locked at 5% lower circuit at Rs 14.87 at 10:38 IST on BSE, with the stock extending Monday's 5% slide triggered by the company reporting weak Q2 results.

Meanwhile, the S&P BSE Sensex was down 172.90 points or 0.61% at 28,326.64.

On BSE, so far 6,429 shares were traded in the counter as against average daily volume of 25,060 shares in the past one quarter.

The stock opened with a downward gap tumbling by the maximum permissible level of 5% and remained locked at 5% level at Rs 14.87 so far in the day. The stock had hit a record low of Rs 10.25 on 28 March 2014. The stock had hit a 52-week high of Rs 34.40 on 12 June 2014.

The stock had outperformed the market over the past one month till 24 November 2014, advancing 35.5% compared with Sensex's 6.14% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.67% as against Sensex's 7.87% rise.

The small-cap company has equity capital of Rs 50.47 crore. Face value per share is Rs 10.

Shares of Tecpro Systems have tanked 9.71% in two trading sessions from Rs 16.47 on 21 November 2014, after the company on 22 November 2014, reported weak Q2 September 2014 results.

Tecpro Systems reported a net loss of Rs 173.36 crore in Q2 September 2014, higher than net loss of Rs 147.08 crore in Q2 September 2013. Net sales declined 70.4% to Rs 68.02 crore in Q2 September 2014 over Q2 September 2013.

Shares of Tecpro Systems were on a slump recently with the stock tumbling by 26.34% in six trading sessions from a recent high of Rs 20.19 on 17 November 2014.

Tecpro Systems is an EPC company, engaged in providing turnkey solution. turnkey solutions in Bulk Material Handling Systems for cement, power, steel sectors etc, Ash Handling Systems for thermal power plants, Balance of Thermal Power Plant, Captive Power Plants, Captive Power Plants on Waste Heat Recovery Boiler based technology and Pollution Control systems.

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