Shares of HLE Glascoat Ltd. fell over 6% on Monday after its profit declined in the first quarter.
The company's net profit fell 40% to Rs 9.29 crore in the quarter ended June, according to an exchange filing.
HLE Glascoat Q1 FY24 Highlights (Consolidated, YoY)
Revenue down 3.54% at Rs 197.19 crore.
Ebitda down 17.21% at Rs 23.18 crore.
Margins at 11.76% vs 13.7%.
Shares of the company declined 5.06% to Rs 608.40 apiece, compared to a 0.028% advance in the Nifty 50 as of 10:24 a.m. The stock fell to an intraday low of 6.54%.
The total traded quantity so far in the day stood at 6.3 times the 30-day average volume. The stock's relative strength index stands at 31.33, indicating that the stock is neither overbought nor oversold.
The one analyst tracking the stock recommends a 'buy' rating on the stock, according to Bloomberg.
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