Hindustan Motors slips 3% on Q4 loss

Hindustan Motors touched a high of Rs 16.50 and it finally ended at  Rs 16.35, down 3%.  Around 374,492 shares were traded today.
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Updated at 1210 Hrs

Hindustan Motors has slumped 4% on weak Q4 numbers.

The stock opened at Rs 16, down 5%, and slipped further to a low of Rs 15.10.
The stock is currently recovering and is now at Rs 16.15, down over 4%. The counter has clocked a volume of 204,480 shares so far.

According to a release issued by the company to the BSE, the net loss for the quarter ended March 31, 2009 is Rs 25.28 crore. The company had recorded a net profit of Rs 10.95 in the corresponding quarter a year ago. The net sales has declined 31% to Rs 127.94 crore in Q4FY09 from Rs 185.01 crore in Q4FY08.