Tecpro Systems off 45.9% in nine sessions

Tecpro Systems was locked at 5% lower circuit at Rs 17.95 at 10:33 IST on BSE, with the stock extending recent steep slide triggered by the company reporting reverse turnaround in Q1.

Meanwhile, the S&P BSE Sensex was down 255.28 points or 1.38% at 18,302.85.

On BSE, 2,521 shares were traded in the counter as against average daily volume of 5,922 shares in the past one quarter.

The stock opened with a downward gap, falling by the maximum 5% daily circuit and remained locked at the 5% level at Rs 17.95 so far during the day, which is also its record low for the counter. The stock hit a 52-week high of Rs 174.20 on 4 October 2012.

The stock had underperformed the market over the past one month till 26 August 2013, declining 49.46% compared with the Sensex's 6.03% fall. The scrip had also underperformed the market in past one quarter, sliding 74.25% as against Sensex's 5.82% fall.

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

Shares of Tecpro Systems have tumbled a whopping 45.93% in nine trading sessions from a recent high of Rs 33.20 on 13 August 2013, as the company on 14 August 2013 reported reverse turnaround in Q1.

Tecpro Systems reported net loss of Rs 60.06 crore in Q1 June 2013, as against net profit of Rs 7.04 crore in Q1 June 2012. Net sales declined 45% to Rs 306.57 crore in Q1 June 2013 over Q1 June 2012.

Tecpro Systems is an established engineering, procurement and construction (EPC) company in India, engaged in providing 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.

Powered by Capital Market - Live News