Sundaram Clayton Declines On Account Of Weak Q4 Earnings

Sundaram Clayton, a leading automobile company plummeted more than 3% on Thursday after the company announced a drop of 56.07% in net profit at Rs 38.36 crore for the quarter ended March 2017, as against Rs 87.32 crore for the same quarter in the previous year, as per BSE filing.

The result was announced after market hours on 3 May 2017. The stock hit a high of Rs 4193.20 and a low of Rs 4125.75 so far during the day. The stock is trading down 3.83% at Rs 4131 at 01:12 PM IST on BSE.

Sundaram Clayton is one of the largest auto components manufacturing and distribution group in India. The company is a leading supplier of aluminium die castings to the automotive and non-automotive sector.

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