Bharat Gears hits the roof after stellar Q2 outcome

Bharat Gears was locked at 20% upper circuit at Rs 42 at 11:58 IST on BSE after net profit jumped 672.9% to Rs 3.71 crore on 8.5% growth in net sales to Rs 108.69 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced after market hours on Friday, 25 October 2013.

Meanwhile, the S&P BSE Sensex was up 27.26 points or 0.13% at 20,710.78.

On BSE, 1,971 shares were traded in the counter as against average daily volume of 1,857 shares in the past one quarter.

The stock hit a low of Rs 40 so far during the day. The stock had hit a 52-week high of Rs 68.25 on 25 October 2012. The stock had hit a 52-week low of Rs 23.25 on 28 August 2013.

The stock had outperformed the market over the past one month till 25 October 2013, surging 20.48% compared with the Sensex's 4.17% rise. The scrip had, however, underperformed the market in past one quarter, sliding 2.78% as against Sensex's 4.44% rise.

The small-cap company has equity capital of Rs 7.82 crore. Face value per share is Rs 10.

Bharat Gears is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, gear boxes for the automotive industry.

Powered by Capital Market - Live News