M M Forgings surges after stellar Q2 earnings

M M Forgings jumped 5.58% to Rs 510.50 at 10:51 IST on BSE after net profit surged 97.3% to Rs 13.14 crore on 25% rise in net sales to Rs 122.07 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours yesterday, 20 October 2014.

Meanwhile, the BSE Sensex was up 120.41 points, or 0.46%, to 26,550.26

On BSE, so far 49,256 shares were traded in the counter as against an average daily volume of 39,819 shares over the past one quarter.

The stock hit a high of Rs 525 and low of Rs 500.10 so far during the day. The stock hit a record high of Rs 530.90 on 9 October 2014. The stock hit a 52-week low of Rs 82.50 on 13 November 2013.

The stock had outperformed the market over the past one month till 20 October 2014, rising 1.06% compared with 2.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 102.94% as against Sensex's 3.07% rise.

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

Meanwhile, MM Forgings' board of directors at its meeting held on 20 October 2014, declared interim dividend of Rs 3 per share.

M M Forgings makes and exports closed die forgings.

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