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Automotive Axles hits 52-week high after strong Q4 results

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jumped 7.11% to Rs 749.90 at 11:12 on after net profit spurted 58.9% to Rs 17.27 crore on 12.6% increase in net sales to Rs 351.09 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 18 May 2017.

Meanwhile, the S&P Sensex was up 174.42 points, or 0.57% at 30,609.21. The S&P Small-cap index was up 132.67 points, 0.86% at 15,494.23.

High volumes were witnessed on the counter. On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 2,320 shares in the past one quarter. The stock had hit a high of Rs 803 so far during the day, which is also its 52-week high. The stock hit a low of Rs 737 so far during the day.

The stock had hit a 52-week low of Rs 582 on 22 December 2016. The stock had underperformed the market over the past one month till 18 May 2017, declining 4.28% compared with the Sensex's 3.81% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.05% as against the Sensex's 6.91% rise.

The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.

manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses.

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

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