Hydro S & S Ind tumbles 8.3%

The stock so far has plunged 9.8 per cent to touch a day's low.

Dec 17, 2014 11:12 IST India Infoline News Service

Hydro S & S Industries started the day on a gloomy note after the company informed the BSE that it has fixed floor price for offer-for-sale (OFS) issue at Rs 180 a share, through which promoter, Kingfa Sci & Tech, the Chinese plastic manufacturer, diluted almost 7.8% stake.

Yesterday, the stock ended with a loss of 7 per cent at Rs. 212.

Today, the stock opened with a gap-down of 3.2 per cent at Rs. 205 and so far, has touched a low at Rs. 191 - down 9.8 per cent from its previous close.

Now, the stock is down 8.3 per cent at Rs. 194. The BSE counter has seen trades of around 1,273 shares are traded, against its two-week daily average volume of 6,675 shares.

Meanwhile, the Sensex is down 161 points at 26,621.

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