Igarashi Motors in reverse gear after poor Q4 result

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Igarashi Motors fell 2.64% to Rs 869.65 at 10:15 IST on BSE after net profit declined 3.61% to Rs 17.88 crore on 1.41% growth in net sales to Rs 128.41 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 40.68 points or 0.13% at 30,210.30. The S&P BSE Mid-Cap index was down 87.56 points, or 0.59%, to 14,869.57.

On BSE, so far 1,587 shares were traded in the counter as against average daily volume of 3,725 shares in the past one quarter. The stock hit a high of Rs 891 and a low of Rs 863 so far during the day. The stock had hit a 52-week low of Rs 588.25 on 24 May 2016. The stock had hit a record high of Rs 948 on 4 May 2017.

The stock had outperformed the market over the past one month till 11 May 2017, rising 12.87% compared with 2.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.46% as against Sensex's 6.76% rise.

The small-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 10.

Igarashi Motors India manufactures automobile parts. The company specializes in the design and manufacture of small, permanent magnet DC motors and gear motors.

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