Net loss of Fiem Industries reported to Rs 25.66 crore in the quarter ended June 2020 as against net profit of Rs 13.44 crore during the previous quarter ended June 2019. Sales declined 81.53% to Rs 65.90 crore in the quarter ended June 2020 as against Rs 356.82 crore during the previous quarter ended June 2019.

Powered by Capital Market - Live News

Fiem Industries will hold a meeting of the Board of Directors of the Company on 1 September 2020.

Powered by Capital Market - Live News

The stock has added 30.48% in the seven sessions from its recent closing low of Rs 484.85 on 12 August 2020.

In the past on year, the scrip has gained 66.44% as against 3.88% rise in the benchmark S&P BSE Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 88.330. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock, however, continues to trade above its 50-day, 100-day and 200-day simple moving averages (SMA) placed at 429.83, 356.30 and 388.88, respectively.

FIEM Industries manufactures automotive lighting and signaling equipment and rear view mirrors.

On a consolidated basis, the company's net profit rose 44.5% to Rs 22.34 crore on a 9.9% decline in net sales to Rs 319.21 crore in Q4 March 2020 over Q4 March 2019.

Powered by Capital Market - Live News

Fiem Industries announced that the Board of Directors of the Company at its meeting held on 30 June 2020, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News