India Nippon Electricals extends post-result losses

India Nippon Electricals lost 2.6% to Rs 1,198.45 at 12:51 IST on BSE, with the stock extending Monday's slide triggered by the company reporting uninspiring Q2 September 2017 results.

Meanwhile, the S&P BSE Sensex was down 88.79 points or 0.26% at 33,642.10. The S&P BSE Small-Cap index fell 41.21 points or 0.23% at 17,869.69.

On the BSE, 5,510 shares were traded on the counter so far as against average daily volumes of 9,215 shares in the past one quarter. The stock had hit a high of Rs 1,258.0 and a low of Rs 1,180 so far during the day. The stock had hit a record high of Rs 1,424.80 on 30 October 2017 and a 52-week low of Rs 472 on 27 December 2016.

 

The stock had outperformed the market over the past one month till 6 November 2017, advancing 12.9% compared with the Sensex's 6.03% rise. The stock had also outperformed the market over the past one quarter, gaining 84.68% as against the Sensex's 4.35% rise. The scrip had also outperformed the market over the past one year, advancing 117.44% as against the Sensex's 23.67% rise.

The small-cap company has equity capital of Rs 11.31 crore. Face value per share is Rs 10.

Shares of India Nippon Electricals have fallen 11.36% in two trading sessions to its ruling market price, from its closing of Rs 1,352.05 on 3 November 2017 after the company reported uninspiring Q2 September 2017 results on Saturday, 4 November 2017. The stock had slumped 9% to settle at Rs 1,230.50 yesterday, 6 November 2017.

India Nippon Electricals' net profit rose 4.5% to Rs 11.17 crore on 23% growth in net sales to Rs 117.55 crore in Q2 September 2017 over Q2 September 2016.

India Nippon Electricals makes electronic ignition systems for two-wheelers, three wheelers and portable engines.

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