NRB Bearings gains after mutual fund buys stake

NRB Bearings rose 2.55% to Rs 92.40 at 14:00 IST on BSE after Sundaram Mutual Fund bought 0.96% stake in the company through bulk deal on NSE on Wednesday, 25 June 2014.

Meanwhile, the BSE Sensex was down 184.79 points, or 0.73%, to 25,128.95.

On BSE, so far 3.60 lakh shares were traded in the counter, compared with an average volume of 68,271 shares in the past one quarter.

The stock hit a high of Rs 97.45 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 91.40 so far during the day. The stock hit a 52-week low of Rs 26.50 on 5 August 2013.

The stock had outperformed the market over the past one month till 25 June 2014, rising 4.16% compared with 2.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 82.76% as against Sensex's 14.77% rise.

The small-cap company has an equity capital of Rs 19.38 crore. Face value per share is Rs 2.

On Wednesday, 25 June 2014, Sundaram Mutual Fund bought 9.30 lakh shares of NRB Bearings at Rs 83 each on the NSE.

Simultaneously, Trilochan Santsingh Sahney sold 19 lakh shares of NRB Bearings at Rs 83 each on NSE.

Net profit of NRB Bearings rose 18.24% to Rs 11.99 crore on 7.93% rise in net sales to Rs 153.31 crore in Q4 March 2014 over Q4 March 2013.

NRB Bearings is an anti friction bearing solution provider, offering end-to-end bearing solutions to its customers across the globe.

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