Weak Q2 earnings weigh on Hindustan Composites

Hindustan Composites lost 4.13% to Rs 1,649 at 10:50 IST on BSE after net profit fell 32% to Rs 10.88 crore on 9.9% decline in net sales to Rs 44.31 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 28 November 2016.

Meanwhile, the S&P BSE Sensex was up 194.91 points or 0.74% at 26,545.08.

On BSE, so far 350 shares were traded in the counter as against average daily volume of 1,326 shares in the past one quarter. The stock hit a high of Rs 1,701 and a low of Rs 1,599 so far during the day. The stock had hit a record high of Rs 2,119 on 20 September 2016. The stock had hit a 52-week low of Rs 750 on 8 April 2016. The stock had underperformed the market over the past one month till 28 November 2016, sliding 12.24% compared with the Sensex's 5.7% fall. The scrip had, however, outperformed the market in past one quarter, advancing 37.05% as against the Sensex's 5.15% fall.

The small-cap company has equity capital of Rs 4.92 crore. Face value per share is Rs 10.

Hindustan Composites is a pioneer in the development, manufacture & marketing of industrial products and friction materials in India.

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