Manali Petrochemicals fell 5.71% to Rs 31.40 at 14:32 IST on BSE after the company said that the production at both its plants in Chennai remains affected since 2 December 2015 due to flooding.
The announcement was made during trading hours today, 7 December 2015.
Meanwhile, the BSE Sensex was down 88.59 points, or 0.35%, to 25,549.52.
On BSE, so far 4.44 lakh shares were traded in the counter, compared with an average volume of 3.19 lakh shares in the past one quarter.
The stock hit a high of Rs 34.25 and a low of Rs 30.95 so far during the day. The stock hit a 52-week high of Rs 37.20 on 5 August 2015. The stock hit a 52-week low of Rs 12.95 on 17 December 2014.
The stock had outperformed the market over the past one month till 4 December 2015, rising 8.12% compared with 3.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 39.62% as against Sensex's 1.73% rise.
The small-cap company has an equity capital of Rs 86 crore. Face value per share is Rs 5.
Manali Petrochemicals said that the production at both the plants of the company remains affected since 2 December 2015 due to flooding and the resultant power disruptions. The plant operations are expected to recommence shortly in a phased manner subject to resumption of normalcy in power supply, material movements, etc. Consequently, the overall operations for the quarter and the year will be impacted significantly, the company added.
Chennai-based Manali Petrochemicals (MPL) is a leader in the production and marketing of Propylene Oxide, Propylene Glycols and Polyols in India. The company operates two grassroot production facilities at Manali in Chennai.
Net profit of Manali Petrochemicals rose 26.80% to Rs 16.56 crore on 10.46% decline in net sales to Rs 171.36 crore in Q2 September 2015 over Q2 September 2014.
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