Menon Bearings drops after weak Q1 results

Menon Bearings slipped 5.74% to Rs 88.75 at 14:24 IST on BSE after net profit fell 3.81% to Rs 4.55 crore on 1.49% increase in total income to Rs 31.81 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was down 13.90 points, or 0.04% at 31,911.50. The S&P BSE Small-Cap index was up 32.95 points, or 0.21% at 16,007.52.

High volumes were witnessed on the counter. On the BSE, 81,000 shares were traded on the counter so far as against the average daily volumes of 18,831 shares in the past one quarter. The stock had hit high of Rs 99.70 and a low of Rs 87.20 so far during the day. The stock had hit a record high of Rs 102 on 6 July 2017 and a 52-week low of Rs 60 on 25 January 2017.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 24.37% compared with the Sensex's 2.06% rise. The scrip had also outperformed the market over the past one quarter advancing 28.36% as against the Sensex's 8.93% rise. The scrip had also outperformed the market over the past one year advancing 21.09% as against the Sensex's 15% rise.

The small-cap company has equity capital of Rs 5.60 crore. Face value per share is Rs 1.

Menon Bearings' board recommended interim dividend of Rs 0.75 per share for the financial year 2017-18.

Menon Bearings is engaged in the manufacturing of auto components.

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