Vardhman Textiles slides on profit taking

Vardhman Textiles was down 1.21% to Rs 1,376.10 at 15:20 IST on BSE, with the stock sliding on profit booking after recent gains.

Meanwhile, the S&P BSE Sensex was up 146.61 points or 0.43% at 33,850.20. The S&P BSE Mid-Cap index rose 0.05%, underperforming the Sensex.

On the BSE, 419 shares were traded on the counter so far as against average daily volumes of 2,836 shares in the past one quarter. The stock had hit a high of Rs 1,395 and a low of Rs 1,352.50 so far during the day. The stock had hit a record high of Rs 1,565.10 on 3 January 2018 and a 52-week low of Rs 1,128.95 on 3 July 2017.

The stock had underperformed the market over the past one month till 20 February 2018, sliding 6.41% compared with the Sensex's 5.09% fall. The stock had, however, outperformed the market over the past one quarter, advancing 7.63% as against the Sensex's 1.03% rise. The scrip had underperformed the market over the past one year, gaining 5.1% as against the Sensex's 17.59% rise.

The mid-cap company has equity capital of Rs 57.43 crore. Face value per share is Rs 10.

Shares of Vardhman Textiles had risen 6.37% in the previous four trading sessions to settle at Rs 1,392.90 yesterday, 20 February 2018, from its closing of Rs 1,309.45 on 14 February 2018.

On a consolidated basis, Vardhman Textiles' net profit fell 28.9% to Rs 135.53 crore on 12.3% growth in net sales to Rs 1647.98 crore in Q3 December 2017 over Q3 December 2016.

Vardhman Textiles is an integrated textile producer in India.

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