Seamec fell 2.83% to Rs 498.75 after the company said that ONGC concluded the charter hire of "SEAMEC III" on 4th December 2019.
The announcement was made during trading hours today, 5 December 2019.
Meanwhile, the S&P BSE Sensex was down 10 points or 0.03% to 40,839.84.
In the past one month, shares of Seamec jumped 30.90% to its current trading price of Rs 498.75.
On the technical front, the stock's RSI (relative strength index) stood at 60.498. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 419.06, as well as above its 200 DMA placed at Rs 415.79.
Seamec reported a consolidated net profit of Rs 26.82 crore in Q2 September 2019 compared with net loss of Rs 15.19 crore in Q2 September 2018. Net sales surged 123.8% to Rs 79.53 crore in Q2 September 2019 over Q2 September 2018.
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Seamec is engaged in offshore and shipping business.
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