Lakshmi Machine Works advances after bulk deals

Lakshmi Machine Works was up 2.15% to Rs 6,128.95 at 10:46 IST on BSE after the stock witnessed multiple bulk deals on the BSE yesterday, 19 February 2018.

Meanwhile, the S&P BSE Sensex was up 88.01 points or 0.26% at 33,862.67. The S&P BSE Mid-Cap index advanced 0.15%, underperforming the Sensex.

On the BSE, 1,793 shares were traded on the counter so far as against average daily volumes of 8,665 shares in the past one quarter. The stock had hit a high of Rs 6,190 and a low of Rs 6,000.05 so far during the day. The stock had hit a record high of Rs 6,628.15 on 8 January 2018 and a 52-week low of Rs 3,638 on 22 February 2017.

The stock had outperformed the market over the past one month till 19 February 2018, sliding 1.74% compared with the Sensex's 4.89% fall. The stock had also outperformed the market over the past one quarter, advancing 4.74% as against the Sensex's 1.3% rise. The scrip had also outperformed the market over the past one year, surging 62.69% as against the Sensex's 18.64% rise.

The mid-cap company has equity capital of Rs 10.96 crore. Face value per share is Rs 10.

HDFC Mutual Fund disposed of 3.68 lakh shares of Lakshmi Machine Works at Rs 5,825.07 per share in a bulk deal on the BSE on 19 February 2018. Shamyak Investment bought 1.80 lakh shares at Rs 5,824.93 apiece. Samyaktva Construction LLP purchased 70,000 shares at Rs 5,825 per share.

HDFC Fund held 3.55% stake in Lakshmi Machine Works end December 2017.

Lakshmi Machine Works' net profit rose 9.9% to Rs 56.35 crore on 6.8% decline in net sales to Rs 542.42 crore in Q3 December 2017 over Q3 December 2016.

Lakshmi Machine Works manufactures entire range of textile spinning machinery from blow room to ring spinning.

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