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Jay Shree Tea drops after weak quarterly outcome

Source: Capital Market, Friday, January 27th, 02:31 PM

Jay Shree Tea & Industries lost 1.82% to Rs 99.70 at 14:25 IST on BSE after net profit declined 96.7% to Rs 0.65 crore on 31.5% growth in net sales to Rs 166.86 crore in Q3 December 2011 over Q3 December 2010.

Meanwhile, the BSE Sensex was up 108.61 points, or 0.64% to 17,185.79. On BSE, 72,000 shares were traded in the counter as against average daily volume of 21,762 shares in the past one quarter.

The stock hit a high of Rs 103.95 and a low of Rs 98.30 so far during the day. The stock had hit a 52-week low of Rs 80.30 on 21 December 2011. The stock had hit a 52-week high of Rs 182.35 on 11 April 2011.

The stock had outperformed the market over the past one month till 25 January 2012, rising 20.25% compared with Sensex's 8.5% rise. The scrip had, however, underperformed the market over the past one quarter, falling 27.65% as against Sensex's 1.03% fall.

The small-cap tea maker has an equity capital of Rs 14.44 crore. Face value per share is Rs 5.

Jay Shree Tea & Industries has 22 estates spread throughout India with total area of 9,407 hectares under tea plantation.The company announced the results after market hours on Wednesday, 25 January 2012.