Ess Dee Aluminium slips to a 52-week low at INR 379
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Ess Dee Aluminium that opened at INR 472 slipped by 8% to INR 434, down to almost 20% lesser at INR 379, marking a bad phase of four days, and also hitting the 52-week low on the National Stock Exchange (NSE).
The company had already reported disappointing results at the end of the June quarter (Q1FY15). Now with the recent fall in the stock market, as many as 128,942 shares were bought and sold on NSE and BSE till the noon deals.
The net profits last year in the Q1FY15 quarter had been INR 18 crore which has fallen to a shocking INR 5.5 crore this year, a sharp decline of 69%.
The stock had reached a 52-week high in February this year touching INR 767 standing at nearly half the rate. Starting August 18, when the stock was at INR 504, the stocks have fallen 14% in the next consecutive five trading stations with only a 1% gain in the benchmark CNX Nifty.
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