Hindustan Composites surges after announcing strong Q4 results

Hindustan Composites surged 19.34% to Rs 1,100 at 13:00 IST on BSE after net profit jumped 134.57% to Rs 18.86 crore on 68.31% rise in total income to Rs 68.37 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 5 May 2016.

The result was announced after market hours yesterday, 5 May 2016.

Meanwhile, the S&P BSE Sensex was down 90.55 points or 0.36% at 25,171.66.

On BSE, so far 7,332 shares were traded in the counter as against average daily volume of 2,056 shares in the past one quarter. The stock hit a high of Rs 1,106 and a low of Rs 1,050 so far during the day. The stock had hit a record high of Rs 1,567 on 7 August 2015. The stock had hit a 52-week low of Rs 750 on 8 April 2016. The stock had outperformed the market over the past one month till 5 May 2016, gaining 7.93% compared with the Sensex's 1.52% gains. The scrip had, however, underperformed the market in past one quarter, dropping 6.82% as against Sensex's 2.62% gains.

The small-cap company has equity capital of Rs 4.92 crore. Face value per share is Rs 10.

Hindustan Composites' board of directors recommended the payment of dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Hindustan Composites is a pioneer in the development, manufacture & marketing of industrial products and friction materials in India for over 50 years. Composites, with its wide range of products suitable for a number of general and specialised applications, has been catering to the diversified needs of core sector industries.

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