Autoline Industries jumps as board mulls stake sale in US subsidiary

Autoline Industries jumped 12.33% to Rs 72.90 at 10:12 IST on BSE after the company scheduled a board meeting to consider and note status of transaction related to stake sale in its US-based wholly owned subsidiary.

The announcement was made during market hours today, 18 December 2014.

Meanwhile, the S&P BSE Sensex was up 317.62 points or 1.19% at 27,027.75

On BSE, so far 87,521 shares were traded in the counter as against average daily volume of 56,539 shares in the past one quarter.

The stock hit a high of Rs 73.95 and a low of Rs 66.50 so far during the day. The stock hit a 52-week high of Rs 121.40 on 22 September 2014. The stock hit a 52-week low of Rs 62 on 13 February 2014.

Autoline Industries scheduled a meeting of the Board of Directors of the company on 22 December 2014, to consider and note status of transaction related to stake sale in its wholly owned subsidiary Autoline Industries Inc. USA.

Autoline Industries reported a consolidated net loss of Rs 17.05 crore in Q2 September 2014, higher than net loss of Rs 15.58 crore in Q2 September 2013. Net sales declined 10.1% to Rs 161.82 crore in Q2 September 2014 over Q2 September 2013.

Autoline Industries is engaged in manufacturing various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two wheelers, three wheelers, tractors, etc.

Powered by Capital Market - Live News