Trident fell 7.7% to Rs 83.90 at 15:09 IST on BSE after the company reported Q4 March 2017 results.
The result was announced during market hours today, 9 May 2017.
Meanwhile, the S&P BSE Sensex was down 11.75 points, or 0.04% at 29,937.90. The S&P BSE Mid-cap index was up 27.09 points, 0.18% at 14,819.69.
On the BSE, 13.86 lakh shares were traded on the counter so far as against the average daily volumes of 3.03 lakh shares in the past one quarter. The stock had hit a high of Rs 92.30 so far during the day, which is also its record high. The stock had hit a low of Rs 83.50 so far during the day.
The stock had hit a 52-week low of Rs 42 on 4 August 2016. The stock had outperformed the market over the past one month till 8 May 2017, advancing 11.67% compared with the Sensex's 0.74% rise. The scrip had also outperformed the market over the past one quarter advancing 27.13% as against the Sensex's 5.78% rise.
The mid-cap company has equity capital of Rs 509.58 crore. Face value per share is Rs 10.
Trident's net profit spurted 63.56% to Rs 99.66 crore on 31.9% increase in total revenue from operations to Rs 1281.10 crore in Q4 March 2017 over Q4 March 2016.
The company's bottom line growth in Q4 March 2017 was boosted by a massive jump in other income (non-operating income). Other income galloped 603% to Rs 49 crore in Q4 March 2017 over Q4 March 2016.
Shares of Trident had witnessed an impressive rally prior to the announcement of the company's results. The stock had surged 9.12% in the preceding five trading sessions to settle at Rs 90.90 yesterday, 8 May 2017, from its closing of Rs 83.30 on 28 April 2017.
Meanwhile, the company during market hours today, 9 May 2017 said that CRISIL has upgraded its rating on the long term bank facilities of Trident to CRISIL 'A+/stable' from 'CRISIL A/Stable'. The rating on the short-term facility has been reaffirmed at 'CRISIL A1'.
Trident is a leading manufacturer and exporter of home textiles & paper products.
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