Lakshmi Machine Works surges after strong Q1 outcome

Lakshmi Machine Works advanced 3.58% to Rs 3,881.95 at 10:48 IST on BSE after net profit jumped 91.4% to Rs 48.57 crore on 36% growth in total income to Rs 598.41 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced after market hours on Wednesday, 6 August 2014.

Meanwhile, the S&P BSE Sensex was down 34.70 points or 0.14% at 25,630.57

On BSE, so far 4,101 shares were traded in the counter as against average daily volume of 3,785 shares in the past one quarter.

The stock hit a high of Rs 3,979.95 and low of Rs 3,866.10 so far during the day. The stock had hit a 52-week high of Rs 4,018.90 on 4 July 2014. The stock had hit a 52-week low of Rs 1,726 on 28 August 2013.

The stock had underperformed the market over the past one month till 6 August 2014, falling 5.7% compared with 1.14% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 27.29% as against Sensex's 14.03% rise.

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

Lakshmi Machine Works (LMW) 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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