Bharat Seats surges after posting strong Q2 results

Bharat Seats surged 15.46% to Rs 57.50 at 14:45 IST on BSE after net profit surged 62.4% to Rs 3.52 crore on 18% rise in net total income from operations to Rs 246.85 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during trading hours today, 17 October 2016.

Meanwhile, the BSE Sensex was down 111.05 points, or 0.4%, to 27,562.55.

High volumes were witnessed on the counter. On BSE, so far 1.56 lakh shares were traded in the counter, compared with average daily volume of 42,993 shares in the past one quarter. The stock hit high of Rs 59.25 so far during the day, which is a record high for the stock. The stock hit low of Rs 50.60 so far during the day. The stock hit a 52-week low of Rs 31.55 on 17 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, gaining 6.98% compared with Sensex's 2.46% fall. The scrip had also outperformed the market in past one quarter, gaining 16.76% as against Sensex's 0.96% decline.

The small-cap company has equity capital of Rs 6.28 crore. Face value per share is Rs 2.

Bharat Seats is a joint Venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans for the manufacture of complete seating systems and interior components for the automotive and surface transport.

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