Aanjaneya Lifecare at record low, tanks 81% in 22 days

The stock of Aanjaneya Lifecare has been reeling under heavy selling pressure since February, losing 80.8 percent in 22 consecutive sessions from closing price of Rs 725.70 on February 21.

The stock is locked at 5 percent lower circuit on Tuesday, quoting at a record low of Rs 139.10 on Bombay Stock Exchange. It was listed on May 27, 2011.

There were pending sell orders of 527,839 shares, with no buyers available.

The company had launched foreign currency convertible bond (FCCB) issue worth USD 75 million on March 18, which could not receive great response.

Aanjaneya managed to raise only USD 40 million through the issue by allocating 400 Bonds of USD 1,00,000 each.

Net profit of the company declined to Rs 10.45 crore in the quarter ended December 2012 from Rs 12.14 crore year-on-year. Meanwhile, revenues increased to Rs 145.86 crore from Rs 107.58 crore during the same period.