Atul Auto rallies after strong sales in December

Atul Auto hit an upper circuit limit of 5% to Rs 305.90 at 11:19 IST on BSE after the company said its total vehicle sales jumped 23.42% to 3,510 units in December 2013 over December 2012.

The company made the announcement during trading hours today, 1 January 2014.

Meanwhile, the BSE Sensex was up 27.36 points, or 0.13%, to 21,198.04.

On BSE, so far 5,288 shares were traded in the counter, compared with an average volume of 11,502 shares in the past one quarter.

The stock hit a low of Rs 295.95 in early trade. The stock hit a record high of Rs 314 on 22 November 2013. The stock hit a 52-week low of Rs 139.90 on 22 March 2013.

The stock had underperformed the market over the past one month till 31 December 2013, sliding 1.82% compared with the Sensex's 1.82% rise. The scrip had, however, outperformed the market in past one quarter, rising 61.06% as against Sensex's 9.24% rise.

The small-cap company has an equity capital of Rs 10.97 crore. Face value per share is Rs 10.

Atul Auto said its total vehicle sales grew 18.29% to 27,908 units in April-December 2013 over April-December 2012.

Atul Auto's net profit rose 18.8% to Rs 7.38 crore on 26.7% growth in net sales to Rs 108.72 crore in Q2 September 2013 over Q2 September 2012.

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

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