GNA Axles hits peak after posting strong Q1 results

GNA Axles rose 3.98% to Rs 277 at 14:20 IST on BSE after net profit rose 41.87% to Rs 11.08 crore on 5.38% rise in total income to Rs 146 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 163.93 points, or 0.52% at 31,874.92. The S&P Small-Cap index was up 138.65 points or 0.88% at 15,956.25.

More than usual volumes were witnessed on the counter. On the BSE, 1.82 lakh shares were traded in the counter so far, compared with average daily volumes of 33,407 shares in the past one quarter. The stock had hit a high of Rs 286.50 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 264.95 so far during the day. The stock had hit a record low of Rs 171.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 18 July 2017, gaining 16.23% compared with Sensex's 2.11% gains. The scrip had also outperformed the market in past one quarter, gaining 22.29% as against Sensex's 8.16% rise. The scrip had also outperformed the market in past six months, rising 29.67% as against Sensex's 16.34% rise.

The small-cap company has equity capital of Rs 21.47 crore. Face value per share is Rs 10.

Shares of GNA Axles had made debut on the bourses on 26 September 2016.

GNA Axles is into manufacturing of rear axle shafts used in on-highway and off-highway vehicular segments in India.

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