CapitalMarket.com - Disa India tumbles on profit taking after three-day 55.8% rally
Hot Pursuit Monday, March 05, 2012 13:52 Hrs IST

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Disa India tumbles on profit taking after three-day 55.8% rally

Disa India tumbled 7.98% to Rs 2,883.05 at 13:47 IST on BSE on profit taking after three-day 55.8% rally triggered by the company's board recommending dividend of Rs 200 per share for the year ended 31 December 2011.

Meanwhile, the BSE Sensex was down 268.48%, or 1.52% to 17,368.51.

On BSE, 4,283 shares were traded in the counter as against average daily volume of 599 shares over the past one quarter

The stock hit a high of Rs 3,169.95 and a low of Rs 2,840.05 so far during the day. The stock had hit a record high of Rs 3,175 on Saturday, 3 March 2012. The stock had hit a 52-week low of Rs 1,300 on 11 March 2011.

The stock had outperformed the market over the past one month till 3 March 2012, surging 95.82% compared with the Sensex's 0.18% gain. The scrip had also outperformed the market in past one quarter, jumping 106.04% as against Sensex's 4.69% gain.

The small-cap engineering firm has an equity capital of Rs 1.51 crore. Face value per share is Rs 10.

The Disa India stock had rallied 55.8% in three trading sessions to settle at Rs 3,133.20 on Saturday, 3 March 2012, from a recent low of Rs 2,011 on Wednesday, 29 February 2012, on the back of strong Q4 results and on a liberal dividend. The company announced the Q4 December 2011 results after trading hours on 29 February 2012 when the board also declared a liberal dividend of Rs 200 per share for the year ended 31 December 2011.

The dividend yield based on the current market price of Rs 2,883.05 works out to 6.93%.

Disa India's net profit rose 45.2% to Rs 12.37 crore on 33.1% growth in net sales to Rs 58.68 crore in Q4 December 2011 over Q4 December 2010.

Disa India manufactures foundry machinery like moulding plants, sand plants and shot blasting machines.

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