Indo Borax and Chemicals shuts plant for 30 days; shares take a nosedive
DSIJ Intelligence / 21 Dec 2016
Indo Borax and Chemicals, which previously closed at Rs 266; on December 21 has opened down by Rs 6. The shares as at 9.50 am, are trading at Rs 257, down by 3.38 per cent. The company has informed the bourses that the plant will remain closed from December 21 till the next 30 days, for the clearance of inventory.
Indo Borax and Chemicals, which previously closed at Rs 266; on December 21 has opened down by Rs 6. The shares as at 9.50 am, are trading at Rs 257, down by 3.38 per cent. The company has informed the bourses that the plant will remain closed from December 21 till the next 30 days, for the clearance of inventory.
The shares of the company are expected to fall further in trade. The scrip of the company in the last three months has fallen by 15 per cent. Fifty-two-week high/low of the stocks stands at Rs 401/249.10.
The Q2FY17 results of the company have been poor. The net sales of the company stand at Rs 15.09 crore, which have plunged by 22.5 per cent. PBIDT stands at Rs 41.37 crore, which has plunged by 41.37 per cent. PAT has decreased by 36.54 per cent and stands at Rs 1.53 crore.
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