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AXISCADES Engg advances after fund buying

Capital Market 

AXISCADES Engineering Technologies was up 4.85% to Rs 171.75 at 12:51 on after Master Portfolio Services bought bulk of the company through open market transactions yesterday, 7 December 2017.

Meanwhile, the S&P Sensex was up 265.63 points or 0.81% at 33,214.84. The S&P Small-Cap index advanced 1.01%, outperforming the Sensex.

On the BSE, 2.09 lakh were traded on the counter so far as against average daily volumes of 49,473 in the past one quarter. The stock had hit a high of Rs 176.20 and a low of Rs 163 so far during the day. The stock had hit a 52-week high of Rs 202.50 on 6 January 2017 and a 52-week low of Rs 107.50 on 17 October 2017.

The stock had outperformed the market over the past one month till 7 December 2017, advancing 22.56% compared with the Sensex's 1.26% fall. The stock had also outperformed the market over the past one quarter, gaining 14.27% as against the Sensex's 4.06% rise. The scrip had, however, underperformed the market over the past one year, sliding 11.6% as against the Sensex's 25.58% rise.

The small-cap company has equity capital of Rs 18.88 crore. Face value per share is Rs 5.

Master Portfolio Services - Vallum India Discovery Scheme bought 1.95 lakh of AXISCADES Engineering Technologies at Rs 153.22 per share in a bulk deal on the NSE yesterday, 7 December 2017.

On a consolidated basis, AXISCADES Engineering Technologies' net profit fell 99.2% to Rs 0.05 crore on 26.6% decline in net sales to Rs 110.22 crore in Q1 June 2017 over Q1 June 2016.

AXISCADES is a technology solutions provider, catering to the futuristic needs of aerospace, defense, heavy engineering, automotive and industrial production sectors.

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

First Published: Fri, December 08 2017. 12:49 IST