Orchid gains in spite of loss in FY09

The stock finally ended with 1.5% gain at Rs 95.65. Over 239,800 shares were traded on the BSE today.
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(Updated at 1132 hrs)


Orchid Chemicals has gained in spite of reporting a loss in FY09 net.

The stock opened up 2% at Rs 96 and dropped to a low of Rs 94. From there the stock surged over 4% to a high of Rs 98. It is now near the day's high at Rs 97 - up 3%. The stock, however, has slipped 29% in the last month. Around 53,271 shares have been traded on the BSE so far.

 

The company has reported a net loss of Rs 52.17 crore for the year ended March 31, 2009. They had reported a profit of Rs 184.53 crore in the previous fiscal.

The net sales has dropped 2% from Rs 1,156 crore to Rs 1,191 crore.