Precision Wires gains after good Q4 earnings

Precision Wires India rose 3.66% to Rs 144.50 at 12:54 IST on BSE after net profit rose 39.7% to Rs 6.93 crore on 18.3% increase in net sales to Rs 247.94 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 8 May 2017.

Meanwhile, the S&P BSE Sensex was up 43.10 points, or 0.14% to 29,969.25.

On the BSE, 17,000 shares were traded in the counter so far, compared with average daily volumes of 6,741 shares in the past one quarter. The stock had hit a high of Rs 148 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 144 so far during the day. The stock hit a 52-week low of Rs 75 on 9 May 2016.

The stock had outperformed the market over the past one month till 8 May 2017, rising 8.65% compared with 0.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.81% as against Sensex's 5.61% rise.

The small-cap company has equity capital of Rs 11.56 crore. Face value per share is Rs 5.

Precision Wires India's net profit rose 29.4% to Rs 22.04 crore on 4.8% increase in net sales to Rs 884.15 crore in the year ended March 2017 over the year ended March 2016.

Precision Wires India is the largest manufacturer of copper winding wires.

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