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Indian Hume Pipe declines after weak Q2 earnings

Capital Market 

Company lost 3.85% to Rs 417.35 at 10:27 on after net profit fell 61.4% to Rs 8.32 crore on 50.5% decline in net sales to Rs 214.17 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 7 December 2017.

Meanwhile, the S&P Sensex was up 233.18 points or 0.71% at 33,182.39. The S&P Small-Cap index advanced 1.03%, outperforming the Sensex.

On the BSE, 23,000 shares were traded on the counter so far as against average daily volumes of 4,326 shares in the past one quarter. The stock had hit a high of Rs 423.60 and a low of Rs 391 so far during the day. The stock had hit a record high of Rs 591 on 1 September 2017 and a 52-week low of Rs 338 on 23 December 2016.

The stock had underperformed the market over the past one month till 7 December 2017, sliding 10.99% compared with the Sensex's 1.26% fall. The stock had also underperformed the market over the past one quarter, declining 22.39% as against the Sensex's 4.06% rise. The scrip had also underperformed the market over the past one year, advancing 3.99% as against the Sensex's 25.58% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Company is engaged in the construction and maintenance of projects relating to water supply and sewerage systems, and pipe manufacturing.

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

First Published: Fri, December 08 2017. 10:23 IST