Lakshmi Machine Works hits 52-week high after strong Q2 earnings

Lakshmi Machine Works surged 4.27% to Rs 2,366 at 10:39 IST on BSE after net profit jumped 44.62% to Rs 52.21 crore on 8.88% growth in total income from operations to Rs 561.05 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced after market hours on Wednesday, 30 October 2013.

Meanwhile, the S&P BSE Sensex was up 22 points or 0.1% at 21,055.97.

On BSE, 5,746 shares were traded in the counter as against average daily volume of 3,473 shares in the past one quarter.

The stock hit a high of Rs 2,411 so far during the day, which is also its 52-week high for the counter. The stock hit a low of Rs 2,320 so far during the day. The stock had hit a 52-week low of Rs 1,725.10 on 31 July 2013.

The stock had outperformed the market over the past one month till 30 October 2013, surging 10.39% compared with the Sensex's 8.54% rise. The scrip had also outperformed the market in past one quarter, jumping 27.62% as against Sensex's 8.71% rise.

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

Lakshmi Machine Works is a leading textile machinery manufacturer in India and one among the three in the world to produce the entire range of spinning machinery. It caters to the domestic market as well as exports the products to Asian and Oceanic regions.

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