Walchandnagar Industries drops as Q1 net loss widens

Walchandnagar Industries lost 2.7% to Rs 55.95 at 11:35 IST on BSE after the company reported net loss of Rs 33.30 crore in Q1 December 2013, higher than net loss of Rs 16.92 crore in Q1 December 2012.

The Q1 result was announced after market hours on Tuesday, 28 January 2014.

Meanwhile, the S&P BSE Sensex was up 68.16 points or 0.33% at 20,751.67.

On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 96,593 shares in the past one quarter.

The stock hit a high of Rs 56.70 and a low of Rs 55.55 so far during the day. The stock had hit a 52-week low of Rs 40.50 on 6 August 2013. The stock had hit a 52-week high of Rs 80.75 on 28 January 2013.

The stock had underperformed the market over the past one month till 28 January 2014, declining 10.51% compared with the Sensex's 2.41% fall. The scrip had, however, outperformed the market in past one quarter, gaining 1.14% as against Sensex's 0.55% rise.

The small-cap company has equity capital of Rs 7.61 crore. Face value per share is Rs 2.

Walchandnagar Industries' net sales declined 12.7% to Rs 143.72 crore in Q1 December 2013 over Q1 December 2012.

Walchandnagar Industries is engaged in engineering, fabrication and manufacture of machineries for sugar plants, cement plants and boilers, heavy duty gears, mineral processing, special and general engineering equipments.

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