LG Balakrishnan gallops after declaring good Q2 outcome

LG Balakrishnan & Bros jumped 13.98% to Rs 669.05 at 15:16 IST on BSE after net profit rose 21.84% to Rs 21.14 crore on 10.07% rise in total income to Rs 311.04 crore in Q2 September 2016 over Q2 September 2015.

The announcement was made on Saturday, 22 October 2016.

Meanwhile, the BSE Sensex was up 84.04 points or 0.3% to 28,161.22

On BSE, so far 1.09 lakh shares were traded in the counter as against an average daily volume of shares in the past one quarter. The stock hit a high of Rs 700, which is also its 52-week high. The stock hit a low of Rs 625 so far during the day. The stock had hit a 52 week low of Rs 396.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 2.43% compared with 2.42% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.1% as against Sensex's 0.99% rise.

The small-cap auto ancillary company has equity capital of Rs 15.70 crore. Face value per share is Rs 10.

LG Balakrishnan & Bros is India's leading Roller chain manufacturer. The company is premier manufacturer of automotive chains under the brand name 'ROLON'.

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