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Autoline Inds retracts from 52-week high

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slumped 7.45% to Rs 82 at 11:43 on BSE, with the stock sliding on profit booking after recent sharp rally.

Meanwhile, the S&P Sensex was down 157.80 points or 0.49% at 32,115.87. The S&P Small-Cap index fell 111.29 points or 0.69% at 15,997.92.

On the BSE, 2.08 lakh shares were traded on the counter so far as against the average daily volumes of 30,687 shares in the past one quarter. The stock had hit a high of Rs 91.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 79.75 so far during the day. The stock had hit a 52-week low of Rs 44 on 22 November 2016.

The stock had outperformed the market over the past one month till 7 August 2017, advancing 60.22% compared with the Sensex's 2.91% rise. The stock had also outperformed the market over the past one quarter, gaining 48.78% as against the Sensex's 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 73.9% as against the Sensex's 14.94% rise.

The small-cap company has equity capital of Rs 16.03 crore. Face value per share is Rs 10.

Shares of had spurted 44.53% in the preceding six trading sessions to settle at Rs 88.60 yesterday, 7 August 2017, from its closing of Rs 61.30 on 28 July 2017. Lion's portion of the rally materialized when the stock zoomed by the maximum permissible level of 20% in a single trading session yesterday, 7 August 2017, after the company said after market hours on Friday, 4 August 2017 that it has entered into an agreement to sell its manufacturing unit in Pimpri, Pune.

said it will utilise the sale proceeds to settle the debt that has a charge on the Pimpri land holding and reduce overall debt exposure of the company. The activities of the company's Pimpri unit will now shift to its Chakan facility in Pune, it said.

The company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, and smoothening of supply chain management by utilizing the available resources in Chakan Unit.

On a consolidated basis, reported net loss of Rs 2.64 crore in Q4 March 2017 as against net loss of Rs 1.24 crore in Q4 March 2016. Net sales rose 26.1% to Rs 109.22 crore in Q4 March 2017 over Q4 March 2016.

is an engineering and auto ancillary company, manufacturing sheet metal components, sub-assemblies and assemblies, foot control modules, parking brakes, hinges, cab stay and cab tilt, exhaust systems, tubular structures, fabrications, etc. for large original equipment manufacturers in the automobile industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 11:43 IST
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