Ess Dee Aluminium fell 12.82% to Rs 223 at 12:00 IST on BSE after rating agency CARE downgraded the company to 'CARE D' from the previous rating of 'BBB-'.
Meanwhile, the BSE Sensex was down 459.96 points, or 1.81%, to 24,946.37.On BSE, so far 1.71 lakh shares were traded in the counter, compared with an average volume of 58,728 shares in the past one quarter. The stock hit a high of Rs 252 and a low of Rs 216.30 so far during the day. The stock hit a 52-week high of Rs 397.70 on 7 August 2015. The stock hit a 52-week low of Rs 121 on 27 March 2015. The stock had underperformed the market over the past one month till 6 January 2016, sliding 15.99% compared with 0.90% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.96% as against Sensex's 5.67% fall.
The small-cap company has an equity capital of Rs 32.05 crore. Face value per share is Rs 10.
The revision in the ratings of Ess Dee Aluminium takes in to account the ongoing delays in debt servicing owing to the strained liquidity position, CARE said in a statement yesterday, 6 January 2016.
Instruments with the 'CARE D' rating are in default or are expected to be in default soon.
On consolidated basis, Ess Dee Aluminium reported net loss of Rs 15.44 crore in Q2 September 2015 compared with net profit of Rs 14.10 crore in Q2 September 2014. Net sales declined 40.4% to Rs 132.60 crore in Q2 September 2015 over Q2 September 2014.
Ess Dee Aluminum manufactures aluminium foils for packaging purpose.
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