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ISGEC Heavy Engg plunges after weak Q1 performance

The industrial equipment firm's consolidated net profit fell 40.5% to Rs 28.28 crore on 29.4% rise in net sales to Rs 1,194.44 crore in Q1 June 2019 compared with Q1 June 2018.

Shares of ISGEC Heavy Engineering tanked 5.27% to Rs 345.95. The result was announced on Saturday, 10 August 2019.

Meanwhile, S&P BSE Sensex was down 265.14 points or 0.71% at 37,316.77.

On BSE, 6,901 shares were traded in ISGEC Heavy Engineering counter, compared to a 2-week average of 8,802 shares. The stock hit an intraday high of Rs 360 and an intraday low of Rs 335.10. It hit a 52-week high of Rs 643.80 on 31 August 2018 and a 52-week low of Rs 333.30 on 8 August 2019.

ISGEC Heavy Engineering is a heavy engineering company. The company is engaged in the manufacture of process plant equipment, mechanical and hydraulic presses, alloy steel and ferrous castings, containers, contract manufacturing and execution of projects for setting up boilers, sugar plants, power plants and air pollution control equipment for customers in India and abroad.

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