Kennametal India dropped 3.55% to Rs 662 at 12:00 IST on BSE after net profit slumped 54.65% to Rs 7.20 crore on 1.91% decline in net total income from operations to Rs 154.79 crore in Q4 June 2016 over Q4 June 2015.
The result was announced after market hours yesterday, 9 August 2016.Meanwhile, the BSE Sensex was down 234.72 points, or 0.84%, to 27,850.44.
On BSE, so far 2,198 shares were traded in the counter, compared with an average volume of 1,314 shares in the past one quarter. The stock hit a high of Rs 685 and a low of Rs 660 so far during the day. The stock hit a 52-week high of Rs 909 on 10 August 2015. The stock hit a 52-week low of Rs 651.50 on 12 February 2016. The stock had underperformed the market over the past one month till 9 August 2016, rising 2.03% compared with 3.53% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.13% as against Sensex's 9.33% rise.
Kennametal India is a manufacturer of hard metal products and machine tools for the manufacturing industries, including auto and auto ancillaries, light and general engineering industries.
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