LG Balakrishnan & Bros has surged 15% to Rs 541, also its record high on NSE, after the board approved the issue of bonus shares in the ratio of 1 equity share for every 1 equity shares held by way of capitalisation of reserves.
Meanwhile, the company has reported a strong 53% year on year (yoy) jump in net profit at Rs 13.79 crore for the quarter ended March 31 2014 (Q4), on back of strong operational performance. The auto parts and equipment maker had profit of Rs 8.99 crore in the same quarter year ago.
Net sales however, grew 7% to Rs 260 crore during the quarter under review against Rs 243 crore in the corresponding quarter of previous fiscal.
The board also recommended a final dividend of Rs 7 per share of Rs 10 each (70% on the face value of Rs 10 each) for the year ended March 31, 2014.
The stock opened at Rs 481 and touched a low of Rs 471 before the announcement of Q4 results. A combined 135,000 shares changed hands on the counter so far on the NSE and BSE.
Meanwhile, the company has reported a strong 53% year on year (yoy) jump in net profit at Rs 13.79 crore for the quarter ended March 31 2014 (Q4), on back of strong operational performance. The auto parts and equipment maker had profit of Rs 8.99 crore in the same quarter year ago.
Net sales however, grew 7% to Rs 260 crore during the quarter under review against Rs 243 crore in the corresponding quarter of previous fiscal.
The board also recommended a final dividend of Rs 7 per share of Rs 10 each (70% on the face value of Rs 10 each) for the year ended March 31, 2014.
The stock opened at Rs 481 and touched a low of Rs 471 before the announcement of Q4 results. A combined 135,000 shares changed hands on the counter so far on the NSE and BSE.
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