Ess Dee Aluminium lost 18.27% to Rs 168.20 at 11:26 IST on BSE, with the stock extending yesterday's slide triggered by rating agency CARE downgrading its rating on the company.
Meanwhile, the BSE Sensex was up 81.04 points, or 0.33%, to 24,932.87
On BSE, so far 4.51 lakh shares were traded in the counter, compared with an average volume of 61,912 shares in the past one quarter. The stock hit a high of Rs 213 and a low of Rs 165 so far during the day. The stock hit a 52-week high of Rs 397.70 on 7 August 2015. The stock hit a 52-week low of Rs 121 on 27 March 2015. The stock had underperformed the market over the past one month till 7 January 2016, falling 31.38% compared with 2.66% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 33.63% as against Sensex's 8.08% fall.
The small-cap company has an equity capital of Rs 32.05 crore. Face value per share is Rs 10.
Shares of Ess Dee Aluminium dropped 19.55% yesterday, 7 January 2016 to settle at Rs 205.80 after rating agency CARE downgraded its ratings on the company to 'CARE D' from the previous rating of 'BBB-'. The revision in the ratings of Ess Dee Aluminium takes in to account the ongoing delays in debt servicing owing to the strained liquidity position, CARE said in a statement on 6 January 2016. Instruments with the 'CARE D' rating are in default or are expected to be in default soon. The stock fell 35.03% in three trading days from a recent high of Rs 258.90 on 5 January 2016.
On consolidated basis, Ess Dee Aluminium reported net loss of Rs 15.44 crore in Q2 September 2015 compared with net profit of Rs 14.10 crore in Q2 September 2014. Net sales declined 40.4% to Rs 132.60 crore in Q2 September 2015 over Q2 September 2014.
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Ess Dee Aluminum manufactures aluminium foils for packaging purpose.
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