Patni Computer Systems\u00a0 declined 1.56% to Rs 443 at 9:57 IST on BSE, after the company’s American depository receipts, or ADR slumped 3.29% to $20.30 on the New York Stock Exchange on Tuesday, 10 August 2010.<\/p>\n
Meanwhile, the BSE Sensex was down 23.91 points, or 0.13% at 18,196.08.<\/p>\n
On BSE, 19,958 shares were traded in the counter as against an average daily volume of 89,900 shares in the past one quarter.<\/p>\n
The stock hit a high of Rs 448.15 and a low of Rs 442.10 so far during the day. The stock had hit a record high of Rs 624 on 15 July 2010 and a 52-week low of Rs 358.15 on 11 August 2009.<\/p>\n
The mid-cap stock had underperformed the market over the past one month till 10 August 2010, falling 10.88% as compared to the Sensex’s return of 2.17%. It had also underperformed the market in the past one quarter, declining 20.69% as compared to the Sensex’s return of 5.13%.<\/p>\n
The company has an equity capital of Rs 26.03 crore. Face value per share is Rs 2.<\/p>\n
Patni Computer Systems’ consolidated net profit as per US accounting standards fell 2% to Rs 147.30 crore on 0.4% increase in sales to Rs 777.63 crore in Q2 June 2010 over Q1 March 2010.<\/p>\n
At the time announcing the second quarter results, Patni Computer Systems said sustaining the growth continues to be challenging. For Q3 September 2010, Patni has forecast net income (excluding a hedging impact) of $22.5 million to $23 million on revenues of $176-$177 million.<\/p>\n
It expects a mark-to-market foreign exchange gain of $1 million during the third quarter. This may change depending on further currency movements and will impact earnings accordingly, Patni said.<\/p>\n