Timken India drops after weak Q1 results

Timken India fell 1.65% to Rs 680 at 9:42 IST on BSE after net profit fell 22.7% to Rs 21.92 crore on 6.3% increase in net sales to Rs 299.89 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 109.21 points, or 0.34% at 31,904.98. The S&P BSE Mid-Cap index was down 80.08 points, or 0.52% at 15,333.07.

On the BSE, 600 shares were traded on the counter so far as against the average daily volumes of 10,398 shares in the past one quarter. The stock had hit a high of Rs 685 and a low of Rs 680 so far during the day. The stock had hit a record high of Rs 815.40 on 6 July 2017 and a 52-week low of Rs 515 on 21 November 2016.

The stock had underperformed the market over the past one month till 8 Aug 2017, declining 9.01% compared with the Sensex's 2.08% rise. The scrip had also underperformed the market over the past one quarter declining 5.19% as against the Sensex's 6.98% rise. The scrip had, however, outperformed the market over the past one year advancing 20.52% as against the Sensex's 13.6% rise.

The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India is engaged in the business of engineering and manufacturing bearings and mechanical power transmission components including gear drives, couplings, belts and chain.

Powered by Capital Market - Live News