Shares of Mahindra CIE Automotive Ltd fell as much as 11.8 per cent to Rs 182.3, their biggest daily percentage loss since Feb 2016.
The auto components supplier on Friday posted a 9 per cent fall in June-quarter profit to Rs 126 crore ($18.25 million).
The stock has an estimated PE of 12.51, below the sector average of 16.90.
The stock is at its lowest since January 2017. Up to the last close, the stock had fallen 19.6 per cent this year, while peer Minda Industries Ltd was down 11 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.