Supreme Industries fell 1.24% to Rs 648.35 at 9:43 IST on BSE after the Reserve Bank of India placed restrictions on further purchases of shares of the company by registered foreign portfolio investors.
Meanwhile, the BSE Sensex was up 49.09 points, or 0.18%, to 27,710.49.
On BSE, so far 819 shares were traded in the counter, compared with an average volume of 13,423 shares in the past one quarter.
The stock hit a high of Rs 655 and a low of Rs 646.90 so far during the day. The stock hit a record high of Rs 745 on 10 April 2015. The stock hit a 52-week low of Rs 538.10 on 11 July 2014.
The stock had underperformed the market over the past one month till 10 July 2015, falling 4.05% compared with 3.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 10.18% as against Sensex's 4.22% fall.
The mid-cap company has an equity capital of Rs 25.41 crore. Face value per share is Rs 2.
The Reserve Bank of India (RBI) on Friday, 10 July 2015, imposed restrictions on further purchases of the equity shares of the company by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs). The RBI said that the trigger limit of 22% holding of FIIs has already reached in Supreme Industries and therefore further purchases of the equity shares of the company by FIIs/RFPIs will be allowed only after obtaining prior approval of the RBI.
On a consolidated basis, net profit of Supreme Industries rose 75.23% to Rs 102.23 crore on 15.45% rise in net sales to Rs 1143.72 crore in Q3 March 2015 over Q3 March 2014.
Supreme Industries is a plastic processing company. It offers wide range of plastic products with a variety of applications in moulded furniture, storage & material handling products, XF films & products, performance films, industrial moulded products, protective packaging products, plastic piping system & petrochemicals.
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