JMT Auto spurts 10.2% in two days

JMT Auto was locked at 5% upper circuit at Rs 426.05 at 11:15 IST on BSE, with the stock extending Wednesday's 5% rally triggered by the company's board approving issue of bonus shares in the ratio of 5:2.

Meanwhile, the S&P BSE Sensex was up 90.47 points or 0.36% at 25,564.36.

On BSE, so far 5,672 shares were traded in the counter as against average daily volume of 3,648 shares in the past one quarter.

The stock's current price of Rs 426.05 is also a record high for the counter. The stock hit a low of Rs 421 so far during the day. The stock had hit a 52-week low of Rs 84.10 on 11 June 2013.

The stock had outperformed the market over the past one month till 11 June 2014, surging 44.41% compared with the Sensex's 10.78% rise. The scrip had also outperformed the market in past one quarter, jumping 155.62% as against Sensex's 16.71% rise.

The small-cap company has equity capital of Rs 14.40 crore. Face value per share is Rs 10.

Shares of JMT Auto have rallied 10.23% in two trading sessions from Rs 386.50 on 10 June 2014, after the company after market hours on 10 June 2014 said that its board of directors at a meeting held on 10 June 2014, approved the issue of bonus shares in the ratio of 5:2 i.e., five bonus shares for every two shares held. The stock surged by the maximum permissible level of 5% to settle at Rs 405.80 on Wednesday, 11 June 2014.

JMT Auto's net profit declined 16.2% to Rs 6.29 crore on 41.1% growth in net sales to Rs 101.88 crore in Q4 March 2014 over Q4 March 2013.

JMT Auto is one of the leading auto component manufacturers in the Eastern region with manufacturing facilities spread across three locations in India viz., Jamshedpur (Jharkhand), Dharwad (Karnataka), and Lucknow (Uttar Pradesh) and business spread across countries like USA, Belgium, South East Asia, Brazil, Germany, Italy and Mexico.

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