Precision Wires gallops 35.8% after announcing Q1 results

Precision Wires India surged 13.19% to Rs 194.75 at 11:55 IST on BSE, with the stock extending Wednesday's rally triggered by the company reporting strong Q1 June 2017 earnings.

Meanwhile, the S&P BSE Sensex was up 16.42 points or 0.05% at 31,678.39. The S&P BSE Small-Cap index rose 122.77 points or 0.76% at 16,377.94.

On the BSE, 2.09 lakh shares were traded on the counter so far as against the average daily volumes of 12,798 shares in the past one quarter. The stock had hit a high of Rs 199.80 so far during the day, which is a record high. The stock hit a low of Rs 182.15 so far during the day. The stock had hit a 52-week low of Rs 103 on 21 November 2016.

The stock had outperformed the market over the past one month till 6 September 2017, advancing 19.52% compared with the Sensex's 2.05% fall. The stock had also outperformed the market over the past one quarter, gaining 25.68% as against the Sensex's 1.51% rise. The scrip had also outperformed the market over the past one year, advancing 53.82% as against the Sensex's 9.26% rise.

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

Shares of Precision Wires India have rallied 35.8% in two trading sessions to its ruling market price, from its close of Rs 143.40 on 5 September 2017, after the company reported strong Q1 results during market hours yesterday, 6 September 2017. The stock had surged by the maximum circuit level of 20% to settle at Rs 172.05 on that day.

Precision Wires India's net profit rose 75.6% to Rs 9.36 crore on 21.9% growth in net sales to Rs 267.67 crore in Q1 June 2017 over Q1 June 2016.

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

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