Insilco hit a lower circuit limit of 5% at Rs 17.82 at 13:40 IST on BSE after the company said its plant will remain shut from 18 September 2014 to 15 October 2014 due to high inventory and low sales volume.
The company made the announcement during trading hours today, 17 September 2014.
Meanwhile, the BSE Sensex was up 52.37 points, or 0.20%, to 26,544.88.
On BSE, so far 24,000 shares were traded in the counter, compared with an average volume of 21,755 shares in the past one quarter.
The stock hit a high of Rs 19.15 in early trade. The stock hit a 52-week high of Rs 20.22 on 16 September 2014. The stock hit a 52-week low of Rs 8.20 on 5 February 2014.
The stock had outperformed the market over the past one month till 16 September 2014, rising 36.26% compared with 1.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.21% as against Sensex's 5.17% rise.
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The small-cap company has an equity capital of Rs 62.72 crore. Face value per share is Rs 10.
Insilco said it will carry out routine preventive maintenance and cleaning during the shut down.
Insilco reported net profit of Rs 0.13 crore in Q1 June 2014 as against net loss of Rs 1.02 crore in Q1 June 2013. Net sales rose 2.17% to Rs 16.03 crore in Q1 June 2014 over Q1 June 2013.
Insilco is one of the leading producers of precipitated silica in South Asia.
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