Meanwhile, the BSE Sensex was down 329.89 points, or 3.51%, to 9,055.53.On BSE, 12.20 lakh shares were traded in the counter. The stock had an average daily volume of 48.87 lakh shares in the past one quarter.The stock hit a high of Rs 11.45 and a low of Rs 10.62 so far during the day. The stock has a 52-week high of Rs 87.40 on 20 December 2007 and a 52-week low of Rs 9 on 27 October 2008.
The mid-cap stock had underperformed the market over the past one month till 14 November 2008, declining 22.72% as compared to the Sensex's decline of 18.27%. It had also underperformed the market in the past one quarter, declining 57.29% as compared to the Sensex's decline of 36.26%.
The company's current equity is Rs 1222.44 crore. Face value per share is Rs 10.
Ispat Industries, which has already cut production by 30%, expects sales to fall by a quarter in the year to March 2009, reports suggest.
Ispat Industries reported a net loss of Rs 26.74 crore in Q2 September 2008 compared to a net profit of Rs 13.54 crore in Q2 September 2007. The company's sales rose 58% to Rs 3,199.70 crore in Q2 September 2008 over Q2 September 2007.
Ispat Industries, promoted by the Mittals group, is into manufacture of all types of galvanized plain/corrugated steel sheets/strips, coils and sponge iron.
