Atul Auto gains as MF purchases bulk shares from secondary market

Atul Auto rose 2.24% to Rs 411.05 at 10:51 IST on BSE after Birla Mutual Fund bought 2 lakh shares of the company at Rs 405 per share in a bulk deal on BSE on Friday, 21 November 2014.

Meanwhile, the S&P BSE Sensex was up 115.56 points or 0.41% at 28,450.19.

On BSE, so far 6,116 shares were traded in the counter as against average daily volume of 33,539 shares in the past one quarter.

The stock hit a high of Rs 413.90 and a low of Rs 406 so far during the day. The stock had hit a record high of Rs 447 on 12 September 2014. The stock had hit a 52-week low of Rs 135 on 24 February 2014.

The stock had outperformed the market over the past one month till 21 November 2014, surging 11.22% compared with the Sensex's 6.62% rise. The stock had also outperformed the market in past one quarter, jumping 13.38% as against Sensex's 7.49% rise.

The small-cap company has equity capital of Rs 10.97 crore. Face value per share is Rs 5.

Birla Mutual Fund bought 2 lakh shares of the Atul Auto at Rs 405 per share in a bulk deal on BSE on Friday, 21 November 2014. Meanwhile, Vijay Kishanlal Khedia sold 1.75 lakh shares of the company at Rs 405.01 per share.

Atul Auto's net profit jumped 48.6% to Rs 10.97 crore on 20.4% growth in net sales to Rs 130.74 crore in Q2 September 2014 over Q2 September 2013.

Atul Group is a leading manufacturer of three-wheeled commercial vehicles in the state of Gujarat.

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