Shanthi Gears dropped 2.84% to Rs 138.45 at 11:00 IST on BSE after net profit fell 18.61% to Rs 3.76 crore on 3.29% rise in total income from operations (net) to Rs 42.98 crore in Q3 December 2014 over Q3 December 2013.
The company announced Q3 results after market hours yesterday, 2 February 2015.
Meanwhile, the BSE Sensex was down 8.96 points, or 0.03%, to 29,113.31.
On BSE, so far 21,819 shares were traded in the counter, compared with an average volume of 42,233 shares in the past one quarter.
The stock hit a high of Rs 142 and a low of Rs 137.25 so far during the day. The stock hit a record high of Rs 179.45 on 20 January 2015. The stock hit a 52-week low of Rs 59.90 on 17 February 2014.
The stock had outperformed the market over the past one month till 30 January 2015, rising 11.69% compared with 6.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 25.01% as against Sensex's 6.72% rise.
The mid-cap auto gear and gear product maker has an equity capital of Rs 8.17 crore. Face value per share is Re 1.
Shanthi Gears said that the board of directors of the company at its meeting held on 2 February 2015, inter alia, has declared an interim dividend of Rs 0.50 per share for the financial year ending 31 March 2015 (FY 2015). The company said it has fixed 13 February 2015 as the record date for the purpose of payment of interim dividend.
Shanthi Gears said that the Tamil Nadu Generation and Distribution Corporation through its Executive Engineer disconnected the supply power to the Foundry unit of the Company on 31 January 2015 based on a direction from the Tamil Nadu Pollution Control Board. The company is seeking legal remedy to restore the power supply since the company is in compliance with all relevant pollution control laws and regulations, Shanthi Gears said.
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