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Maharashtra Seamless drops after bulk deal

Capital Market 

Seamless lost 1.69% to Rs 198 at 14:18 on after a bulk deal of 2.74 lakh shares was executed on the scrip at Rs 196 per share at 12:28 on today, 11 May 2016.

Meanwhile, the S&P Sensex was down 189.26 points or 0.73% at 25,583.27

Bulk deal boosted volume on the scrip. On BSE, so far 2.82 lakh shares were traded in the counter as against average daily volume of 22,404 shares in the past one quarter. The stock hit a high of Rs 202.20 and a low of Rs 195 so far during the day. The stock had hit a 52-week high of Rs 223.90 on 26 May 2015. The stock had hit a 52-week low of Rs 131.10 on 29 February 2016. The stock had outperformed the market over the past one month till 10 May 2016, rising 8.05% compared with 4.45% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 42.03% as against Sensex's 8.48% rise.

The small-cap company has equity capital of Rs 33.50 crore. Face value per share is Rs 5.

Seamless' net profit dropped 85.9% to Rs 4.95 crore on 45.6% fall in net sales to Rs 190.02 crore in Q3 December 2015 over Q3 December 2014.

Seamless manufactures seamless pipes & tubes.

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First Published: Wed, May 11 2016. 14:40 IST