India Globalization Capital (IGC) Stock Price Down 8.1%

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC)’s share price dropped 8.1% during mid-day trading on Monday . The company traded as low as $1.66 and last traded at $1.70. Approximately 840,923 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,598,492 shares. The stock had previously closed at $1.85.

India Globalization Capital (NYSEAMERICAN:IGC) last released its quarterly earnings results on Tuesday, February 12th. The construction company reported ($0.02) earnings per share for the quarter. The company had revenue of $1.29 million during the quarter.

A hedge fund recently bought a new stake in India Globalization Capital stock. Hsbc Holdings PLC acquired a new stake in India Globalization Capital, Inc. (NYSEAMERICAN:IGC) during the third quarter, according to its most recent filing with the SEC. The firm acquired 59,730 shares of the construction company’s stock, valued at approximately $385,000.

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About India Globalization Capital (NYSEAMERICAN:IGC)

India Globalization Capital, Inc engages in the development and commercialization of cannabis-based therapies to treat Alzheimer's, pain, nausea, eating disorders, several end points of Parkinson's, and epilepsy in humans, dogs, and cats. The company operates through two segments, Legacy Infrastructure and Medical Cannabis Based Alternative Therapies.

See Also: Sell-Side Analysts

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