Greaves Cotton gains after robust Q4 result

Greaves Cotton rose 1.41% to Rs 133.45 at 14:33 IST on BSE after net profit rose 47.8% to Rs 42.74 crore on 3% rise in net sales to Rs 403.83 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours on Friday, 6 May 2016.

Meanwhile, the BSE Sensex was up 461.50 points, or 1.83%, to 25,690

On BSE, so far 2.45 lakh shares were traded in the counter, compared with an average volume of 17,442 shares in the past one quarter.

The stock hit a high of Rs 136.50 and a low of Rs 132.05 so far during the day. The stock hit a 52-week high of Rs 162.40 on 20 November 2015. The stock hit a 52-week low of Rs 114.20 on 29 February 2016. The stock had underperformed the market over the past one month till 6 May 2016, rising 1.19% compared with 1.32% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 0.04% as against Sensex's 2.48% rise.

The mid-cap engineering company has an equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cotton's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 40% to Rs 63 crore in Q4 March 2016 over Q4 March 2015.

Greaves Cotton, a Rs 1700 crore, multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/ petrol engines, farm equipment and gensets. The company sustains its leadership through seven manufacturing units which produce world class products backed by comprehensive marketing and service/ parts network.

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