Automotive Axles firms up after strong Q4 earnings

Automotive Axles rose 4.12% to Rs 638.25 at 9:58 IST on BSE after net profit surged 119.39% to Rs 10.86 crore on 22.87% rise in net sales to Rs 311.64 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 10 May 2016.

Meanwhile, the BSE Sensex was down 103.41 points, or 0.40%, to 25,669.12 .

On BSE, so far 5,924 shares were traded in the counter, compared with an average volume of 362 shares in the past one quarter. The stock hit a high of Rs 665 and a low of Rs 637 so far during the day. The stock hit a 52-week high of Rs 827 on 5 August 2015. The stock hit a 52-week low of Rs 510.25 on 11 February 2016. The stock had underperformed the market over the past one month till 10 May 2016, rising 4.07% compared with 4.45% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 5.28% as against Sensex's 8.48% rise.

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

Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses.

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