Munjal Showa spurts to 52-week high after strong Q3 earnings

Munjal Showa surged 4.61% to Rs 76 at 12:41 IST on BSE, with the stock extending Wednesday's 7.95% rally triggered by the company reporting strong Q3 earnings.

Meanwhile, the S&P BSE Sensex was down 85.19 points or 0.42% at 20,175.84.

On BSE, so far 1.29 lakh shares were traded in the counter as against average daily volume of 17,242 shares in the past one quarter.

The stock hit a high of Rs 79.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 73.50 so far during the day. The stock had hit a 52-week low of Rs 52.40 on 28 August 2013.

The stock had outperformed the market over the past one month till 5 February 2014, advancing 3.93% compared with the Sensex's 2.83% fall. The scrip had also outperformed the market in past one quarter, jumping 13.16% as against Sensex's 3.4% fall.

The small-cap company has equity capital of Rs 8 crore. Face value per share is Rs 2.

Shares of Munjal Showa have rallied 12.92% in two trading sessions from Rs 67.30 on 4 February 2014, after the company during trading hours on Wednesday, 5 February 2014 reported strong Q3 December 2013 earnings. The stock had surged 7.95% to settle at Rs 72.65 on Wednesday, 5 February 2014.

Munjal Showa's net profit jumped 35.2% to Rs 21.62 crore on 6.5% growth in net sales to Rs 415.91 crore in Q3 December 2013 over Q3 December 2012.

Munjal Showa is a pioneer in the manufacture of shock absorbers.

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