Cimmco hits 52-week high

Cimmco surged 5.95% to Rs 93.45 at 10:11 IST on BSE, with the stock extending recent sharp rally.

Meanwhile, the S&P BSE Sensex was down 145.23 points or 0.49% at 29,276.17. The BSE Small-Cap index was up 3.30 points or 0.02% at 14,080.91

On the BSE, 2.62 lakh shares were traded on the counter so far as against the average daily volumes of 21,401 shares in the past one quarter. The stock had hit a high of Rs 97 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 91.10 so far during the day.

The stock had hit a 52-week low of Rs 56.35 on 9 November 2016. It had outperformed the market over the past one month till 24 March 2017, surging 35.28% compared with the Sensex's 1.83% rise. The scrip had also outperformed the market over the past one quarter, gaining 31.84% as against the Sensex's 12.98% rise.

The small-cap company has equity capital of Rs 20.15 crore. Face value per share is Rs 10.

Shares of Cimmco have surged 56.4% in four trading sessions from its close of Rs 59.75 on 21 March 2017.

Among latest developments, Equity Intelligence India bought 2.12 lakh shares of the company at Rs 69.95 per share in a bulk deal on the NSE on 23 March 2017. Tarun Suresh Jain purchased 1.44 lakh shares at Rs 87.43 per share in a bulk deal on the NSE on 24 March 2017.

Cimmco reported net loss of Rs 1.20 crore in Q3 December 2016 as against net loss of Rs 5.88 crore in Q3 December 2015. Net sales rose 109.6% to Rs 40.09 crore in Q3 December 2016 over Q3 December 2015.

Cimmco is engaged in the manufacturing and selling of railway wagons and heavy engineering products.

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