Omax Autos drops after closing manufacturing activities at Gurgaon unit

Omax Autos fell 1.71% to Rs 71.75 at 10:32 IST on BSE after the company said that it has closed manufacturing activities at its unit in Gurgaon, Haryana.

The announcement was made after market hours yesterday, 27 June 2017.

Meanwhile, the S&P BSE Sensex was down 34.58 points or 0.11% at 30,923.67. The S&P Small-Cap index was up 16.67 points or 0.11% at 15,157.75.

On BSE, so far 1,055 shares were traded in the counter as against average daily volume of 7,582 shares in the past one quarter. The stock had hit a high of Rs 72.50 and a low of Rs 71.75 so far during the day. The stock had hit a 52-week high of Rs 103.40 on 21 October 2016. The stock had hit a 52-week low of Rs 65.05 on 3 August 2016.

The stock had underperformed the market over the past one month till 27 June 2017, falling 6.53% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.51% as against Sensex's 5.89% rise. The scrip had also underperformed the market in past one year, sliding 2.54% as against Sensex's 17.25% rise.

The small-cap company has equity capital of Rs 21.39 crore. Face value per share is Rs 10.

Omax Autos said that the company has closed manufacturing activities in its unit named Automax situated at Delhi-Jaipur Highway, Gurgaon, Haryana, with effect from closing hours of 24 June 2017.

Omax Autos reported net loss of Rs 0.59 crore in Q4 March 2017 as compared with net profit of Rs 4.60 crore in Q4 March 2016. Net sales fell 0.85% to Rs 258.61 crore in Q4 March 2017 over Q4 March 2016.

Omax Autos is one of the leading manufacturers of auto and non-auto components in India. The company specializes in sheet metal components, tubular components and machined components.

Powered by Capital Market - Live News