Asahi India Glass slides on poor 4Q results

Asahi India Glass fell 4.05% to INR 88.95 10:04 IST on BSE, after consolidated net profit tumbled 72.9% to INR 2.57 on 27.1% rise in net sales to INR 429.77 in 4Q March 2011 over 4Q March 2010.
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Asahi India Glass fell 4.05% to INR 88.95 10:04 IST on BSE, after consolidated net profit tumbled 72.9% to INR 2.57 on 27.1% rise in net sales to INR 429.77 in 4Q March 2011 over 4Q March 2010. The company announced the results after market hours on Monday, 16 May 2011. Meanwhile, the BSE Sensex was up 46.05 points, or 0.23%, to 18,387.50. On BSE, 9,042 shares were traded in the counter as against average daily volume of 31,048 shares over the past quarter. The stock hit a high of INR 92 and a low of INR 88.55 so far during the day. The stock had hit a 52-week high of INR 123.70 on 10 November 2010 and a 52-week low of INR 62.30 on 26 May 2010. The mid-cap stock had underperformed the market over the past one month until 16 May 2011, declining 8.85% compared with the Sensex“s 5.37% fall. The stock had outperformed the market in past one quarter, gaining 8.17% as against Sensex“s return of 0.24%.