Ess Dee Aluminium hits 52-week low; stock tanks 8%

Ess Dee Aluminium has tanked nearly 8% to Rs 434, extending its past four day’s fall, after reporting a disappointing set of numbers for the quarter ended June 2014 (Q1FY15).

The stock opened at Rs 472 and plunged nearly 20% at Rs 379, also its 52-week low on National Stock Exchange (NSE).  A combined 128,942 shares changed hands on the counter till noon deals on NSE and BSE.

The consolidated net profit of the company had declined sharply by 69% year-on-year at Rs 5.55 crore for Q1FY15 against Rs 18 crore in the corresponding quarter of previous fiscal.

In past five trading sessions the stock has fallen 14% from Rs 504 on August 18 compared to 1% gain in the benchmark CNX Nifty. The stock almost halved from its 52-week high of Rs 767 touched in February this year.

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