Praj Industries dropped 5.52% to Rs 81.25 at 10:40 IST on BSE after consolidated net profit fell 39.32% to Rs 3.04 crore on 1.79% fall in income from operations to Rs 205.79 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 20 October 2016.Meanwhile, the S&P BSE Sensex was down 129.29 points or 0.46% at 28,001.20.
On BSE, so far 2.98 lakh shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter. The stock hit a high of Rs 83.10 and a low of Rs 79.45 so far during the day. The stock had hit a 52-week high of Rs 105.15 on 4 July 2016. The stock had hit a 52-week low of Rs 70.40 on 26 February 2016. The stock had underperformed the market over the past one month till 20 October 2016, declining 1.83% compared with 1.38% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.02% as against Sensex's 0.77% rise.
The mid-cap company has equity capital of Rs 35.68 crore. Face value per share is Rs 2.
Praj Industries' consolidated order backlog as on 30 September 2016 stood at Rs 1025 crore, which comprised 72% orders from domestic market.
Praj Industries offers innovative solutions for beverage alcohol and bioethanol plant, brewery, water & wastewater treatment plant, critical process equipment and systems and bioproducts.
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