MM Forgings tumbled 6.42% to Rs 422.05 at 15:01 IST on BSE after net profit fell 19.19% to Rs 10.44 crore on 4.18% decline in total income from operations to Rs 118.95 crore in Q1 June 2016 over Q1 June 2015.
The result was announced during market hours today, 11 August 2016.Meanwhile, the S&P BSE Sensex was up 85.26 points or 0.31% at 27,860.14.
On BSE, so far 1,274 shares were traded in the counter as against average daily volume of 3,472 shares in the past one quarter. The stock hit a high of Rs 452.50 and a low of Rs 421.50 so far during the day. The stock had hit a 52-week low of Rs 335.60 on 12 February 2016. The stock had hit a 52-week high of Rs 679 on 14 August 2015. The stock had outperformed the market over the past one month till 10 August 2016, surging 6.09% compared with 2.39% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 2.4% as against Sensex's 7.77% rise.
The small-cap company has equity capital of Rs 12.07 crore. Face value per share is Rs 10.
MM Forgings manufactures steel forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels in the weight range of 0.20 kilogram (Kg) to 60 Kg.
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