Maharashtra Scooters hits record high on recent rally

Maharashtra Scooters jumped 4.03% to Rs 2,410 at 12:38 IST on BSE, with the stock extending recent gains.

Meanwhile, the S&P BSE Sensex was down 12.82 points, or 0.04% at 32,312.59. The S&P BSE Small-Cap index was up 153.65 points, or 0.96% at 16,078.81.

On the BSE, 1,680 shares were traded on the counter so far as against the average daily volumes of 850 shares in the past one quarter. The stock had hit a high of Rs 2,414.95 so far during the day, which is also its record high. The stock hit a low of Rs 2,309.95 so far during the day. The stock had hit a 52-week low of Rs 1,385.60 on 22 November 2016.

The stock had outperformed the market over the past one month till 4 Aug 2017, advancing 21.81% compared with the Sensex's 3.57% rise. The scrip had also outperformed the market over the past one quarter advancing 15.8% as against the Sensex's 7.3% rise. The scrip had also outperformed the market over the past one year advancing 52.7% as against the Sensex's 16.64% rise.

The small-cap company has equity capital of Rs 11.43 crore. Face value per share is Rs 10.

Shares of Maharashtra Scooters rose 17.8% in nine trading sessions to its current market price of Rs 2,410, from a close of Rs 2,045.80 on 25 July 2017.

Maharashtra Scooters' net profit fell 28.9% to Rs 1.06 crore on 200% increase in net sales to Rs 2.58 crore in Q1 June 2017 over Q1 June 2016.

Maharashtra Scooters is an investment company. The company is engaged in the manufacturing of pressure die casting dies, jigs and fixtures, among others for two and three-wheelers, primarily for the automobile industry.

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