Monday 18 January 2016

Pipavav Defence tumbles 9% on Q3 net loss

The Company has posted a net loss of Rs. (2936.037) mn for the quarter ended December 31, 2015 as compared to net loss of Rs. (704.637) mn for the quarter ended December 31, 2014.


Pipavav Defence and Offshore Engineering Ltd stock was lower by 10% at Rs. 71 after the company posted Q3 results.

The Company has posted a net loss of Rs. (2936.037) mn for the quarter ended December 31, 2015 as compared to net loss of Rs. (704.637) mn for the quarter ended December 31, 2014. 

Total Income has decreased from Rs. 2611.647 million for the quarter ended December 31, 2014 to Rs. 549.949 million for the quarter ended December 31, 2015.

The scrip opened at Rs. 76.3 and has touched a high and low of Rs. 76.3 and Rs. 72.3 respectively. So far 1724416(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5863.91 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 46.6 on 23-Jan-2015. Last one week high and low of the scrip stood at Rs. 88 and Rs. 74.5 respectively.

The promoters holding in the company stood at 42.24 % while Institutions and Non-Institutions held 17.13 % and 40.63 % respectively.

The stock is currently trading below its 50 DMA.

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