TVS Srichakra drops after poor Q1 result

TVS Srichakra fell 2.82% at Rs 2,466 at 09:41 IST on BSE after net profit fell 6% to Rs 46.51 crore on 8.4% growth in net sales to Rs 507.99 crore in Q1 June 2016 over Q1 June 2015.

The announcement was made on Saturday, 20 August 2016.

Meanwhile, the S&P BSE Sensex was up 27.23 points, or 0.1%, to 28,104.23

On BSE, so far 415 shares were traded in the counter as against average daily volume of 985 shares in the past one quarter. The stock hit a high of Rs 2,514.80 and a low of Rs 2,450 so far during the day. The stock had hit a 52-week high of Rs 3,159.50 on 20 August 2015. The stock hit a 52-week low of Rs 1,945.10 on 29 February 2016. The stock had outperformed the market over the past one month till 19 August 2016, rising 6.14% compared with 1.32% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 8.34% as against Sensex's 10.97% rise.

The small-cap tyres manufacturer has equity capital of Rs 7.66 crore. Face value per share is Rs 10.

TVS Srichakra is one of India's leading two-and three-wheeler tyre manufacturer. The company is recognised as a large manufacturer of industrial pneumatic tyres, flotation, motorgrader, farm & implement tyres, skid steer tyres, multipurpose tyres and vintage tyres.

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