Indo Rama Synthetics India, the Polyester manufacturer discloseda standalone net loss of Rs 16.56 crore for the first quarter ended June 30. The company had noted a net profit of Rs 5.86 crore in the same period a year ago, as per the company’s filling. Net sales during the quarter went slightly up 0.72 percent at Rs 632.45 crore versus Rs 627.92 crore a year ago. On the other hand, in a separate filing, the company said its board has agreed upon the scheme of amalgamation of Indo Rama Renewables and its two step-down subsidiary companies -- Indo Rama Renewables Porbandar and Indo Rama Renewables Ramgarh. The scheme will be subject to all required permissions and approvals as may be required, it added.
Indo Rama share price saw a marginal fall by 0.76% last day that is on 31st August. The stock opened at Rs.39.15 as compared to its previous closing at Rs.39.25. It touched the days high and low at Rs. 40.50 and Rs.38.55. The stock was tradind close to its first support level at Rs. 38.95.
Last week on 24th August Indo Rama share price touched its 52 week high value at Rs. 42.20 while the 52 week low is seen at Rs. 24.25 on8th Sept ‘15. The stock yields 7.90% monthly returns and has the PE ratio of 10.55. The market cap of the company amounts to Rs. 590.59cr and has a book value of Rs. 38.84 . Yesterday’s trading session saw approximately 1K shares being traded in the counter with a traded value of Rs.42.58 lacs, as per NSE.
In order to acquire further details on the support and resistance refer to Indo Rama share price forecast.
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