Hi-Tech Gears jumps after HNI investor buys bulk shares

Hi-Tech Gears jumped 11.53% to Rs 314.30 at 11:45 IST on BSE, after a high networth individual investor bought shares in a bulk deal executed yesterday, 7 December 2015 on the scrip on BSE.

Meanwhile, the BSE Sensex was down 106.17 points, or 0.42%, to 25,423.94

On BSE, so far 1.66 lakh shares were traded in the counter compared with the average daily volume of 10,466 shares in the past one quarter.

The stock hit a high of Rs 324 and a low of Rs 292.30 so far during the day. The stock had hit a record high of Rs 378 on 19 February 2015. The stock hit a 52-week low of Rs 219 on 17 December 2014.

The stock had outperformed the market over the past one month till 7 December 2015, rising 4.06% compared with 2.80% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.29% as against Sensex's 2.56% rise.

The small-cap auto ancillary firm has an equity capital of Rs 18.77 crore. Face value per share is Rs 10.

High networth individual (HNI) investor Nemish Shantilal Shah bought 3.74 lakh shares of Hi-Tech Gears at an average price of Rs 265 per share in a bulk deal executed yesterday, 7 December 2015 on BSE. The stock had surged 7.15% to settle at Rs 281.80 yesterday, 7 December 2015.

Hi-Tech Gears' net profit jumped 74.5% to Rs 5.41 crore on 1.5% rise in net sales to Rs 108.71 crore in Q2 September 2015 over Q2 September 2014.

Hi-Tech Gears is an auto component manufacturer (a tier 1 supplier).

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