Jain Irrigation Systems tumbled 6.51% to Rs 47.40 at 14:58 IST on BSE after two bulk deals aggregating 15 lakh shares were executed on BSE.
A block deal of 10 lakh shares was executed at Rs 48.60 per share at 11:45 IST. Another block deal of 5 lakh shares was executed at Rs 48.75 per share at 11:56 IST. The two block deals constitute 0.32% of Jain Irrigation Systems' equity.
Meanwhile, the S&P BSE Sensex was down 475.22 points or 2.48% at 18,707.04.
On BSE, 19.19 lakh shares were traded in the counter as against average daily volume of 4.67 lakh shares in the past one quarter.
The stock hit a high of Rs 50 and a low of Rs 47.20 so far during the day. The stock had hit a 52-week low of Rs 46.10 on 1 August 2013. The stock had hit a 52-week high of Rs 90 on 14 August 2012.
The stock had outperformed the market over the past one month till 5 August 2013, rising 3.36% compared with the Sensex's 1.61% fall. The scrip had, however, underperformed the market in past one quarter, declining 23.18% as against Sensex's 2.01% fall.
The small-cap company has equity capital of Rs 90.98 crore. Face value per share is Rs 2.
Jain Irrigation Systems' net profit fell 75.8% to Rs 41.90 crore on 0.2% decline in net sales to Rs 1209.15 crore in Q4 March 2013 over Q4 March 2012. The company unveils Q1 June 2013 results on 14 August 2013.
Jain Irrigation Systems is a diversified company with a product portfolio encompassing irrigation products, piping products, plastic sheets, dehydrated foods, fruit puree and juice concentrates. Jain Irrigation has pioneered drip irrigation for small farmers in India and has a major market share in one of the fastest growing irrigation markets in the world and is also the second largest drip irrigation company in the world.
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