Meanwhile, the S&P BSE Sensex was down 407.82 points or 1.67% at 24,072.02.

On BSE, so far 52,000 shares were traded in the counter as against average daily volume of 73,705 shares in the past one quarter. The stock hit a high of Rs 105.20 and a low of Rs 99.20 so far during the day. The stock had hit a 52-week low of Rs 90 on 3 June 2015. The stock had hit a record high of Rs 151.70 on 20 March 2015. The stock had outperformed the market over the past one month till 19 January 2016, rising 0.29% compared with Sensex's 4.07% fall. The scrip had also outperformed the market in past one quarter, sliding 9.71% as against Sensex's 10.54% fall.

The mid-cap company has equity capital of Rs 33 crore. Face value per share is Rs 1.

Triveni Turbine's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 16% to Rs 44.60 crore in Q3 December 2015 over Q3 December 2014.

Dhruv M. Sawhney, Chairman and Managing Director of Triveni Turbine said that the progress in the joint venture with GE viz. GE Triveni (GETL) has been encouraging. Some large sized orders are scheduled for despatch in Q4 March 2016, which will enable the JV to achieve a much higher turnover in comparison to the previous year together with a substantially better bottom line, Sawhney said. The outlook for the JV going forward is positive, he added.

Triveni Turbine offers steam turbine solutions for industrial captive and renewable power.