L G Balakrishnan & Bros corrects on profit booking

L G Balakrishnan & Bros fell 3.58% to Rs 1,084 at 15:12 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 180.65 points, or 0.54% to 33,936.93.

On the BSE, 3,006 shares were traded in the counter so far, compared with average daily volumes of 4,200 shares in the past two weeks. The stock had hit a high of Rs 1,130.85 and a low of Rs 1,070 so far during the day. The stock hit a record high of Rs 1,138.80 on 21 December 2017. The stock hit a 52-week low of Rs 512.05 on 26 December 2016.

Shares of L G Balakrishnan & Bros rose 23.27% in five trading sessions to settle at Rs 1,124.30 yesterday, 21 December 2017, from its close of Rs 912.05 on 14 December 2017.

Net profit of L G Balakrishnan & Bros rose 4.6% to Rs 23.34 crore on 14.6% rise in net sales to Rs 347.60 crore in Q2 September 2017 over Q2 September 2016.

L G Balakrishnan & Bros makes chains, sprockets and metal formed parts for automotive applications.

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