Bannari Amman Spinning Mills Ltd, Shah Alloys Ltd, Gravita India Ltd and GTN Industries Ltd are among the other losers in the BSE's 'B' group today, 04 September 2019.

Madhav Marbles and Granites Ltd lost 14.04% to Rs 24.5 at 14:34 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 350 shares were traded on the counter so far as against the average daily volumes of 3336 shares in the past one month.

Bannari Amman Spinning Mills Ltd tumbled 11.54% to Rs 115. The stock was the second biggest loser in 'B' group.On the BSE, 31 shares were traded on the counter so far as against the average daily volumes of 222 shares in the past one month.

Shah Alloys Ltd crashed 10.59% to Rs 7.6. The stock was the third biggest loser in 'B' group.On the BSE, 1 shares were traded on the counter so far as against the average daily volumes of 408 shares in the past one month.

Gravita India Ltd corrected 9.52% to Rs 38. The stock was the fourth biggest loser in 'B' group.On the BSE, 1026 shares were traded on the counter so far as against the average daily volumes of 2828 shares in the past one month.

GTN Industries Ltd dropped 9.48% to Rs 5.54. The stock was the fifth biggest loser in 'B' group.On the BSE, 500 shares were traded on the counter so far as against the average daily volumes of 1064 shares in the past one month.

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Madhav Marbles and Granites will hold a meeting of the Board of Directors of the Company on 7 September 2019.

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The Board of Madhav Marbles and Granites at its meeting held on 10 August 2019 approved the decision that the company will not set up a plant for manufacturing and processing of Quartz at Udaipur, Rajasthan through its Subsidiary Madhav Natural Stone Surfaces due to the petition filed with the U.S. Dept of Commerce (Commerce) and the U.S. International Trade Commission (Commission) seeking anti-dumping and countervailing duties on imports of certain quartz surface products from India. The matter is under determination and investigations and the final decision will come around in June 2020.

The company is in exploratory talks with some groups/parties to avert the current situation and for undertaking the project out of India, the outcome of which will be intimated to the Exchange and Investors in due time.

The company is also planning to increase its stake in Madhav Natural Stone Surfaces, the Subsidiary through investment in Share Capital.

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Net profit of Madhav Marbles and Granites declined 52.94% to Rs 0.64 crore in the quarter ended June 2019 as against Rs 1.36 crore during the previous quarter ended June 2018. Sales declined 26.47% to Rs 14.47 crore in the quarter ended June 2019 as against Rs 19.68 crore during the previous quarter ended June 2018.

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