Texmo Pipes slumps on slowdown in production

Texmo Pipes and Products slumped 5.14% to Rs 12 at 13:01 IST on BSE after the company said that its production is being slowed down due to interruption of power supply.

The announcement was made after market hours yesterday, 26 November 2015.

Meanwhile, the S&P BSE Sensex was up 66.67 points or 0.26% at 26,025.30.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 48,173 shares in the past one quarter.

The stock hit a high of Rs 12.70 and a low of Rs 11.80 so far during the day. The stock had hit a 52-week low of Rs 7.05 on 26 March 2015. The stock had hit a 52-week high of Rs 19.40 on 18 August 2015.

The stock had underperformed the market over the past one month till 26 November 2015, sliding 17.21% compared with the Sensex's 5.13% fall. The scrip had also underperformed the market in past one quarter, declining 6.99% as against Sensex's 0.95% rise.

The small-cap company has equity capital of Rs 23.82 crore. Face value per share is Rs 10.

Texmo Pipes and Products said that the production is continuing through the use of DG set.

Texmo Pipes and Products reported net loss of Rs 0.52 crore in Q2 September 2015 compared with net profit of Rs 0.02 crore in Q2 September 2014. Net sales declined 7.7% to Rs 41.52 crore in Q2 September 2015 over Q2 September 2014.

Texmo Pipes and Products is engaged in the business of products like CPVC pipes, molded fittings of PVC and SWR, DWC pipes and drip inline.

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