Lakshmi Machine Works gains after strong Q3 earnings

Lakshmi Machine Works rose 2.05% to Rs 3,515.10 at 15:18 IST on BSE after net profit rose 41.8% to Rs 63.49 crore on 15.9% rise in net sales to Rs 639.37 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours yesterday, 3 February 2016.

Meanwhile, the BSE Sensex was up 126.37 points, or 0.52%, to 24,349.69

On BSE, so far 3,350 shares were traded in the counter, compared with an average volume of 976 shares in the past one quarter. The stock hit a high of Rs 3,744 and a low of Rs 3,470 so far during the day. The stock hit a record high of Rs 4,199 on 6 August 2015. The stock hit a 52-week low of Rs 3,275 on 25 August 2015. The stock had underperformed the market over the past one month till 3 February 2016, sliding 9.94% compared with 7.41% decline in the Sensex. The scrip also outperformed the market in past one quarter, falling 6.96% as against Sensex's 8.90% fall.

The mid-cap company has an equity capital of Rs 11.27 crore. Face value per share is Rs 10.

Lakshmi Machine Works is a global player and one among the three manufacturers of entire range of textile spinning machinery from blow room to ring spinning. The company diversified into CNC Machine Tools and is a brand leader in manufacturing customised products.

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