Automotive Axles tumbles after poor Q1 earnings

Automotive Axles lost 4.63% to Rs 262.65 at 12:35 IST on BSE after net profit fell 52.3% to Rs 2.90 crore on 32.8% decline in net sales to Rs 133.29 crore in Q1 December 2013 over Q1 December 2012.

The Q1 result was announced after market hours on Monday, 10 February 2014.

Meanwhile, the S&P BSE Sensex was up 54.91 points or 0.27% at 20,389.18.

On BSE, so far 554 shares were traded in the counter as against average daily volume of 2,289 shares in the past one quarter.

The stock hit a high of Rs 279.50 and a low of Rs 261 so far during the day. The stock had hit a 52-week low of Rs 188.15 on 8 August 2013. The stock had hit a 52-week high of Rs 353.95 on 20 February 2013.

The stock had outperformed the market over the past one month till 10 February 2014, surging 4.64% compared with the Sensex's 2.04% fall. The scrip had also outperformed the market in past one quarter, jumping 7.75% as against Sensex's 1.61% fall.

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

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

Powered by Capital Market - Live News