Apcotex Industries lost 2.6% to Rs 311.15 at 10:26 IST on BSE after the company informed that workmen union at its Taloja plant has given notice of strike effective today, 9 January 2017.
The announcement was made after market hours on Friday, 6 January 2017.Meanwhile, the S&P BSE Sensex was down 20.83 points, or 0.08%, to 26,738.40
On the BSE, 337 shares were traded on the counter so far as against the average daily volumes of 21,416 shares in the past one quarter. The stock had hit a high of Rs 315 and a low of Rs 308.20 so far during the day.
The stock hit a record high of Rs 435 on 28 July 2016. The stock hit a 52-week low of Rs 181.50 on 12 February 2016.
The small-cap company has equity capital of Rs 10.37 crore. Face value per share is Rs 5.
Apcotex Industries said that the management is making all efforts to settle the issue amicably. The management has also made all the necessary arrangements to try and ensure that the production activities are not hampered in any way and will try and ensure to maintain normal level of operations during this period, the company said.
Apcotex Industries net profit dropped 33.21% to Rs 3.56 crore on 39.19% growth in total income to Rs 95.30 crore in Q2 September 2016 over Q2 September 2015.
Apcotex Industries is one of the leading producers of performance emulsion polymers in India. its product range includes VP latex, carboxylated and non-carboxylated SB latexes, acrylic latexes, nitrile latex and synthetic rubber.
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