M M Forgings drops on profit booking

M M Forgings lost 5.8% to Rs 237 at 11:58 IST on BSE, with the stock declining on profit booking.

Meanwhile, the BSE Sensex was up 228.28 points, or 0.89%, to 25,744.63

On BSE, so far 70,861 shares were traded in the counter as against average daily volume of 16,348 shares over the past one quarter.

The stock hit a high of Rs 255 and a low of Rs 228.30 so far during the day. The stock had hit a 52-week high of Rs 268.90 on Tuesday, 1 July 2014. The stock hit a 52-week low of Rs 60.35 on 7 August 2013.

The small-cap stock had outperformed the market over the past one month till 1 July 2014, rising 44.81% compared with 5.36% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 113.58% as against Sensex's 13.68% rise.

The company has an equity capital of Rs 12.07 crore. Face value per share is Rs 10.

Shares of M M Forgings had gained 39.12% in three trading days to Rs 251.60 on 1 July 2014 from a recent low of Rs 180.85 on 26 June 2014.

M M Forgings' net profit rose 14.5% to Rs 7.82 crore on 14.2% rise in net sales to Rs 107.07 crore in Q4 March 2014 over Q4 March 2013.

M M Forgings makes and exports closed die forgings.

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