Mcleod Russel Share Price Slumps on Modi Currency Scrap

McLeod Russel share price slumped over 8 per cent in the morning trade today after PM Narendra Modi, announced abolition of 500 and 1000 notes on the midnight of 8^th November. McLeod Russel India on Tuesday registered 13 per cent increase in its standalone net profit at Rs 132.08 cr for the second quarter ended September. Its net profit stood at Rs 116.44 cr in the year-ago period, the company said in a regulatory filing.

However, total income from operations fell to Rs 442.92 cr during the second quarter of this fiscal, from Rs 510.99 cr in the corresponding period of the previous year. Total income has decreased to Rs 501.48 cr for the quarter ended September 2016, from Rs 531.67 cr in the year-earlier period. The company is into cultivation, manufacture and sale of tea.

Meanwhile, McLeod Russel share price was trading at Rs.150.20, 8.19 per cent down on the NSE today. The 52-week high & low of the stock is seen at Rs. 219.70 (12-JUL-16) & Rs. 129.05 (12-FEB-16). Its life time high reads at Rs. 386.45 (22-Feb-13) while its life time low stands at Rs. 35.00 (20-Nov-08). The Average Daily Movement (ADM) of the stock is 6.31 and its average volume for last 20 days is 473175. The stock yields -7.80 % monthly returns. The market cap of the company amounts to Rs. 1790.70 (Cr) and has a book value of 140.61.

McLeod Russel is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  McLeod Russel is fundamentally strong and is safe for investment, as per Dynamic Levels analysts. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to McLeod Russel share price history.