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Sudarshan Chemical tumbles after weak Q1 earnings

Capital Market 

Industries tanked 10.79% to Rs 359.60 at 14:24 on after net profit fell 25.26% to Rs 23.40 crore on 2.73% increase in total to Rs 370.22 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 10 August 2017.

Meanwhile, the S&P Sensex was down 136.71 points, or 0.43% at 31,661.13. The S&P Small-Cap index was down 294.88 points, or 1.89% at 15,339.62.

High volumes were witnessed on the counter. On the BSE, 47,000 shares were traded on the counter so far as against the average daily volumes of 24,564 shares in the past one quarter. The stock had hit a high of Rs 399.80 and a low of Rs 366.60 so far during the day. The stock had hit a record high of Rs 458.85 on 26 July 2017 and a 52-week low of Rs 261.10 on 26 December 2016.

The stock had outperformed the market over the past one month till 9 Aug 2017, advancing 4.4% compared with the Sensex's 1.39% rise. The scrip had, however, underperformed the market over the past one quarter declining 0.73% as against the Sensex's 6.23% rise. The scrip had, however, outperformed the market over the past one year advancing 34.17% as against the Sensex's 13.22% rise.

The small-cap company has equity capital of Rs 13.85 crore. Face value per share is Rs 2.

Industries is one of the leading manufacturers of color & effect pigments in India. The company's products primarily serve the coatings, plastics, inks and cosmetics markets.

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

First Published: Thu, August 10 2017. 14:27 IST