M M Forgings gains after HDFC MF purchases bulk shares

M M Forgings rose 2.23% to Rs 689 at 10:53 IST on BSE after HDFC Mutual Fund bought 3 lakh shares of the company at an average price of Rs 675 per share in a bulk deal on NSE on Friday, 10 July 2015.

Meanwhile, the S&P BSE Sensex was up 32.18 points or 0.12% at 27,693.58.

On BSE, so far 8,765 shares were traded in the counter as against average daily volume of 10,000 shares in the past two weeks.

The stock hit a high of Rs 698.75 and a low of Rs 684.50 so far during the day. The stock had hit a record high of Rs 751.25 on 10 March 2015. The stock had hit a 52-week low of Rs 216.05 on 25 July 2014.

HDFC Mutual Fund bought 3 lakh shares of M M Forgings at an average price of Rs 675 per share in a bulk deal on NSE on Friday, 10 July 2015. Goel Anil Kumar sold 1.99 lakh shares of the company at an average price of Rs 675.48. Goel Seema sold 95,653 shares at an average price of Rs 675.63.

M M Forgings' net profit rose 42.2% to Rs 11.12 crore on 15.2% growth in net sales to Rs 123.30 crore in Q4 March 2015 over Q4 March 2014.

M M Forgings makes and exports closed die forgings.

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