Arvind Remedies lost 3.66% to Rs 30.30 at 15:20 IST on BSE after the company said that there has been strike by the workers of the company in Unit No. 1 at Kakkalur since few days, affecting the production.
The company made announcement during market hours today, 6 January 2015.
Meanwhile, the BSE Sensex was down 810.19 points, or 2.91%, to 27,032.13.
On BSE, so far 2.89 lakh shares were traded in the counter, compared with an average volume of 6.89 lakh shares in the past one quarter.
The stock hit a high of Rs 31.95 and a low of Rs 30.25 so far during the day. The stock hit a 52-week high of Rs 66.05 on 8 September 2014. The stock hit a 52-week low of Rs 23.25 on 17 December 2014.
The stock had outperformed the market over the past one month till 5 January 2015, rising 0.96% compared with 2.16% fall in the Sensex. The scrip had however underperformed the market in past one quarter, declining 33.51% as against Sensex's 4.8% rise.
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The small-cap pharma company has an equity capital of Rs 68.13 crore. Face value per share is Rs 10.
Arvind Remedies said that there has been strike by the workers of the company in Unit No. 1 at Kakkalur since few days raising their demands and the same has affected the production. The management has initiated conciliation efforts and hope to bring back normalcy at the earliest, Arvind remedies said.
Arvind Remedies net profit fell 89.9% to Rs 1.32 crore on 33.6% rise in total income to Rs 293.46 crore in Q2 September 2014 over Q2 September 2013.
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