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      Nitin Fire protection rallies 40.1% in seven sessions

      MoM Team / Mumbai, Sep 11, 2017 10:44 AM IST

        Nitin Fire protection rallies 40.1% in seven sessions

        Nitin Fire Protection Industries was locked at 5 percent upper circuit at Rs 5.13 at 10:45 IST on BSE, with the stock extending recent sharp rally.

        Meanwhile, the S&P BSE Sensex was up 144.18 points or 0.46 percent at 31,831.70. The S&P BSE Small-Cap index rose 121.37 points or 0.74 percent at 16,446.57.

        On the BSE, 9.61 lakh shares were traded on the counter so far as against the average daily volumes of 3.62 lakh shares in the past one quarter. The stock had hit a low of Rs 5.08 so far during the day. The stock had hit a 52-week high of Rs 37.35 on 1 November 2016 and a record low of Rs 3.60 on 31 August 2017.

        The stock had underperformed the market over the past one month till 8 September 2017, sliding 11.25 percent compared with the Sensex's 1.02 percent fall. The stock had also underperformed the market over the past one quarter, declining 50.3 percent as against the Sensex's 1.52 percent rise. The scrip had also underperformed the market over the past one year, sliding 82.41 percent as against the Sensex's 9.1 percent rise.

        The small-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.

        Shares of Nitin Fire Protection Industries have rallied 40.16 percent in seven trading sessions to its ruling market price, from its close of Rs 3.66 on 31 August 2017.

        The company scheduled a board meeting on 14 September 2017 to declare Q1 June 2017 results. On a consolidated basis, Nitin Fire Protection Industries reported net loss of Rs 109.84 crore in Q1 June 2017, compared with net profit of Rs 11.34 crore in Q1 June 2016. Net sales declined 98.9 percent to Rs 3.36 crore in Q4 March 2017 over Q4 March 2016.

        Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.


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      Source: Capital Market


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