Automotive Axles advances as UTI Mutual Fund buys shares

Automotive Axles gained 3.37% to Rs 682.25 at 12:31 IST on BSE after UTI Mutual Fund bought 2.25 lakh shares of the company on Friday, 11 September 2015.

Meanwhile, the S&P BSE Sensex was up 87.61 points or 0.33% at 25,695.99

On BSE, so far 162 shares were traded in the counter as against average daily volume of 6,961 shares in the past one quarter.

The stock hit a high of Rs 703 and a low of Rs 667.25 so far during the day. The stock had hit a 52-week low of Rs 599.75 on 24 August 2015. The stock had hit a record high of Rs 862 on 18 November 2014.

The stock had underperformed the market over the past one month till 11 September 2015, sliding 8.17% compared with 8.10% fall in the Sensex. The scrip also underperformed the market in past one quarter, falling 6.48% as against Sensex's 2.88% decline.

The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.

UTI Mutual Fund bought 2.25 lakh shares at Rs 660 per share of Automotive Axles in a bulk deal on BSE on Friday, 11 September 2015. M3 Investment sold 1.97 lakh shares at Rs 660 per share of Automotive Axles in a bulk deal on BSE on Friday, 11 September 2015.

Automotive Axles' net profit rose 37.7% to Rs 7.81 crore on 25% rise in net sales to Rs 234.09 crore in Q1 June 2015 over Q1 June 2014.

Automotive Axles is engaged in manufacturing drive axle assemblies for commercial vehicles.

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