Lakshmi Machine Works jumps after strong Q2 earnings

Lakshmi Machine Works rose 4.25% to Rs 3,688 at 10:24 IST on BSE after net profit rose 20.58% to Rs 56.48 crore on 6.88% rise in net sales to Rs 608.22 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 2 November 2015.

Meanwhile, the BSE Sensex was up 114.81 points, or 0.43%, to 26,673.96.

On BSE, so far 1,856 shares were traded in the counter, compared with an average volume of 2,573 shares in the past one quarter.

The stock hit a high of Rs 3,728.20 and a low of Rs 3,622.55 so far during the day. The stock hit a record high of Rs 4,499.40 on 19 November 2014. 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 2 November 2015, falling 1.73% compared with 1.29% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, sliding 1.11% as against Sensex's 5.53% decline.

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

Lakshmi Machine Works (LMW) 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. LMW foundry makes precision castings for industries world over. LMW has added the advanced technology centre to produce components for aerospace industry.

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