Bhushan Steel lost 4.65% to Rs 43.10 at 15:15 IST on BSE after the company said that operations at Sahibabad unit, Uttar Pradesh has been shut down for period of four weeks following the National Green Tribunal order.
The announcement was made on Saturday, 12 December 2015.
Meanwhile, the BSE Sensex was up 100.48 points, or 0.45%, to 25,156.45
On BSE, so far 2.33 lakh shares were traded in the counter, compared with an average volume of 1.27 lakh shares in the past one quarter.
The stock hit a high of Rs 44.65 and a low of Rs 42.50 so far during the day. The stock hit a 52-week high of Rs 103.30 on 3 March 2015. The stock hit a 52-week low of Rs 40.50 on 9 November 2015.
The stock had outperformed the market over the past one month till 11 December 2015, rising 9.05% compared with Sensex's 3.18% decline. The scrip, however, underperformed the market in past one quarter, falling 2.8% as against Sensex's 2.21% fall.
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The small-cap company has an equity capital of Rs 45.30 crore. Face value per share is Rs 2.
Bhushan Steel reported net loss of Rs 732.79 crore in Q2 September 2015 as against net loss of Rs 297.19 crore in Q2 September 2014. Net sales rose 10.6% to Rs 3038.70 crore in Q2 September 2015 over Q2 September 2014.
Bhushan Steel is a manufacturer of cold rolled steel coils, hardened and tempered steel strips, galvanised and electrical steel strips.
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