Tide Water Oil (India) lost 4.67% to Rs 25,045 at 10:09 IST on BSE, with the stock sliding on profit booking after the company announced strong Q3 December 2015 earnings and the company's board approved a 1:1 bonus issue and a 2-for-1 stock-split.
Meanwhile, the S&P BSE Sensex was up 68.33 points or 0.28% at 24,537.90.
On BSE, so far 1,523 shares were traded in the counter as against average daily volume of 2,233 shares in the past one quarter. The stock hit a high of Rs 27,560 and a low of Rs 25,000 so far during the day. The stock had hit a 52-week low of Rs 12,251 on 23 March 2015. The stock had hit a record high of Rs 33,269 on 7 January 2016. The stock had outperformed the market over the past one month till 28 January 2016, surging 8.78% compared with Sensex's 6.01% fall. The scrip had also outperformed the market in past one quarter, rallying 48.83% as against Sensex's 9.51% fall.
The small-cap company has equity capital of Rs 0.87 crore. Face value per share is Rs 10.
Shares of Tide Water Oil (India) had witnessed a pre-result rally. The stock had rallied 16.5% in five trading sessions to settle at Rs 26,709 on 27 January 2016 from Rs 22,926 on 19 January 2016. The stock had declined 1.64% to settle at Rs 26,272 yesterday, 28 January 2016.
Tide Water Oil (India)'s net profit jumped 86.5% to Rs 26.33 crore on 4.8% growth in net sales to Rs 245.75 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 28 January 2016.
Tide Water Oil (India)'s board of directors of the company at its meeting held yesterday, 28 January 2016, approved a 1:1 bonus issue and a 2-for-1 stock-split.
Tide Water Oil is one of the leading players in the Indian lubricant industry. It manufactures and markets Veedol brand of lubricants.
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