LG Balakrishnan gallops to record high on strong results, liberal bonus issue

LG Balakrishnan & Bros jumped 12.74% to Rs 530 at 14:30 IST on BSE after the company's board of directors approved issue of a 1:1 bonus shares.

The company made the announcement during market hours today, 15 May 2014.

Meanwhile, the BSE Sensex fell 8.28 points or 0.03% to 23,806.84

On BSE, so far 56,272 shares were traded in the counter as against an average daily volume of 6,100 shares in the past one quarter.

The stock hit a high of Rs 546, which is also its record high. The stock hit a low of Rs 470 so far during the day. The stock had hit a 52 week low of Rs 152.10 on 5 August 2013.

The small-cap stock had underperformed the market over the past one month till 14 May 2014, rising 5.05% compared with 5.24% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 50.19% as against Sensex's 16.93% rise.

The auto ancillary company has equity capital of Rs 7.85 crore. Face value per share is Rs 10.

LG Balakrishnan & Bros' net profit rose 53.56% to Rs 13.79 crore on 7.37% rise in total income from operations (net) to Rs 260.49 crore in Q4 March 2014 over Q4 March 2013.

On a consolidated basis, LG Balakrishnan & Bros' net profit increased 91.59% to Rs 62.71 crore on 15.93% rise in total income from operations (net) to Rs 1108.56 crore in Q4 March 2014 over Q4 March 2013.

LG Balakrishnan & Bros' board of directors recommended a final dividend of Rs 7 per share for the year ended 31 March 2014 in addition to the interim dividend of Rs 5 per share already paid.

Powered by Capital Market - Live News