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Hindustan Dorr declines as India Ratings downgrades its long term issuer rating to ‘BB’

22 Mar 2013 Evaluate

Hindustan Dorr-Oliver is currently trading at Rs. 12.40, down by 0.65 points or 4.98% from its previous closing of Rs. 13.05 on the BSE.

The scrip opened at Rs. 12.45 and has touched a high and low of Rs. 12.60 and Rs. 12.10 respectively. So far 7472 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 56.50 on 10-Apr-2012 and a 52 week low of Rs. 12.10 on 22-Mar-2013.

Last one week high and low of the scrip stood at Rs. 16.00 and Rs. 12.10 respectively. The current market cap of the company is Rs. 88.93 crore.

The promoters holding in the company stood at 55.28% while Institutions and Non-Institutions held 14.36% and 30.36% respectively.

Rating agency India Ratings has downgraded Hindustan Dorr-Oliver’s long term issuer rating from ‘BBB’ to ‘BB’. The company has downgraded the same due to weak financial performance of the company in six months ended December 2012. Its standalone revenue declined 53% (year-on year) to Rs 160 crore.

The company’s revenue declined due to slower execution of projects due to lack of funding and minimal order inflow during the period.

Hindustan Dorr Oliver (HDO) is an Indian EPC company having its core business activities in providing engineered solutions, technologies and EPC installations in Liquid-Solid Separation applications.

Peers
Company Name CMP
Larsen & Toubro 4133.30
Rail Vikas Nigam 292.15
NCC 157.55
KEC International 571.20
Kalpataru Projects 1216.85
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