Sintex Industries shares fall over 7% on lower growth guidance

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Updated: January 11, 2016 4:26:34 PM

Sintex Industries shares tumbled over 7 per cent in the morning trade on Monday on lower growth guidance due to Euro depreciation, fall in commodities and weak demand from auto companies.

Sintex share price, bse, sensexSintex Industries shares tumbled over 7 per cent in the morning trade on Monday on lower growth guidance due to Euro depreciation, fall in commodities and weak demand from auto companies. (Photo: Reuters)

Sintex Industries shares tumbled over 7 per cent in the morning trade on Monday on lower growth guidance due to Euro depreciation, fall in commodities and weak demand from auto companies.

At 11.39 am, shares of Sintex Industries were trading 5.59 per cent down at Rs 95.35. The scrip opened at Rs 97 and had touched a high and low of Rs 97 and Rs 93.70, respectively, in trade so far.

Around 10.96 lakh shares of Sintex exchanged hands on the BSE as compared with two-week average daily volume of 4.03 lakh shares. The share price of the company closed 6.88 per cent down at Rs 94.05. BSE Sensex closed 0.44 per cent down at 24,825.

FY16 revenue growth guidance of Sintex Industries lowered to 15 per cent from 20 per cent earlier, according to market analysts.

Sintex Industries on Saturday reported 10.43 per cent year-on-year (YoY) growth in net profit figures for the quarter ended December 2015. Net sales of the company grew 34.51 per cent YoY to Rs 1,342.95 crore.

The company is engaged in the business of building materials (prefab, monolithic construction), custom moulding, storage tanks and textiles.

(With inputs from Reuters)

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