Maharashtra Seamless dropped 1.75% to Rs 157.08 at 14:23 IST on BSE after the minor fire incident disrupted production at its plant at Pipe Nagar, District, Raigad, Maharashtra.
The company made the announcement during market hours today, 23 October 2015.
Meanwhile, the S&P BSE Sensex was up 217.17 points or 0.8% at 27,504.83.
On BSE, so far 668 shares were traded in the counter as against average daily volume of 17,088 shares in the past one quarter.
The stock hit a high of Rs 159.30 and a low of Rs 156.60 so far during the day. The stock had hit a 52-week high of Rs 342.65 on 12 November 2014. The stock had hit a 52-week low of Rs 138.50 on 29 September 2015.
The stock had outperformed the market over the past one month till 21 October 2015, rising 6.18% compared with 4.18% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 13.41% as against Sensex's 3.17% decline.
The mid-cap company has equity capital of Rs 33.50 crore. Face value per share is Rs 5.
Maharashtra Seamless said that a minor fire has occurred due to heavy wind and lightening at electrical sub-station in the electric transformer situated at the company's plant at Pipe Nagar, District Raigad, Maharashtra. It is expected that the necessary repair work would be completed in a week's time. However certain section of production are being operated with diesel generator (DG) power.
Maharashtra Seamless reported net loss of Rs 8.34 crore in Q1 June 2015 compared with net profit of Rs 22.48 crore in Q1 June 2014. Net sales dropped 11.7% to Rs 237.60 crore in Q1 June 2015 over Q1 June 2014.
Maharashtra Seamless (MSL) manufactures seamless pipes & tubes.
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