Ahmednagar Forgings hits 52-week high after good Q2 results

Ahmednagar Forgings surged 11.98% to Rs 171.05 at 10:16 IST on BSE, after net profit jumped 46.1% to Rs 55.53 crore on 88% surge in net sales to Rs 563.26 crore in Q2 March 2014 over Q2 March 2013.

Ahmednagar Forgings announced Q2 result after market hours on Thursday, 8 May 2014.

Meanwhile, the BSE Sensex was up 160.63 points, or 0.72%, to 22,504.67

On BSE, so far 86,236 shares were traded in the counter compared with the average volume of 22,608 shares in past one quarter.

The stock hit a 52-week high of Rs 178.10 in intraday trade today, 9 May 2014. The stock hit an intraday low of Rs 164 so far during the day. The stock had hit a 52-week low of Rs 73.20 on 7 August 2013.

The small-cap stock had outperformed the market over the past one month till 8 May 2014, gaining 16.96% compared with no change in the Sensex. The scrip had also outperformed the market in past one quarter, surging 52.5% as against Sensex's 9.66% rise.

The castings and forgings company has an equity capital of Rs 36.75 crore. Face value per share is Rs 10.

Powered by Capital Market - Live News