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Bajaj Hindusthan drops after poor Q2 earnings
Bajaj Hindusthan fell 1.71% to Rs 28.70 at 13:49 IST on BSE after net profit fell 87.94% to Rs 8.78 crore on 4.1% decline in net sales to Rs 1201.03 crore in Q2 March 2012 over Q2 March 2011.
The company announced the results during trading hours today, 8 May 2012.
Meanwhile, the BSE Sensex was down 164.06 points or 0.97% to 16,748.65.
On BSE, 4.65 lakh shares were traded in the counter as against average daily volume of 7.20 lakh shares in the past one quarter.
The stock hit a high of Rs 29.50 and a low of Rs 28.40 so far during the day. The stock had hit a 52-week low of Rs 23.35 on 20 December 2011. The stock had hit a 52-week high of Rs 64.06 on 8 July 2011.
The stock had underperformed the market over the past one month till 7 May 2012, falling 7.89% compared with the Sensex's 3.28% fall. The scrip had also underperformed the market in the past one quarter, declining 16.93% as against the Sensex's 4.03% fall.
The company has an equity capital of Rs 63.94 crore. Face value per share is Re 1.
Bajaj Hindusthan is engaged in the manufacturing of sugar and ethanol.
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