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ABNL skids after reporting weak Q4 results

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was down 2.68% to Rs 1,657 at 14:15 on after consolidated net profit fell 52.34% to Rs 130.33 crore on 15.93% growth in total to Rs 4373.50 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 18 May 2017.

Meanwhile, the S&P Sensex was down 135.77 points or 0.44% at 30,523.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 20,506 shares in the past one quarter. The stock had hit a high of Rs 1,698 and a low of Rs 1,650 so far during the day.

The stock had hit a record high of Rs 1746.95 on 4 May 2017 and a 52-week low of Rs 955.10 on 18 May 2016. It had outperformed the market over the past one month till 17 May 2017, surging 9.74% compared with the Sensex's 4.23% rise. The scrip had also outperformed the market over the past one quarter, gaining 13.37% as against the Sensex's 7.69% rise.

The large-cap company has equity capital of Rs 130.26 crore. Face value per share is Rs 10.

(ABNL) said it has planned a capex of about Rs 200 crore for its divisions including ongoing linen yarn and VFY expansions.

ABNL said that the composite scheme of arrangement for amalgamation of ABNL with Grasim Industries followed by the demerger and listing of financial services business is now subject to the final sanction from the National Company Law Tribunal (NCLT) and the stock exchanges. The scheme is expected to be effective during Q2 September 2017.

is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 14:16 IST