Salzer Electronics gains on bargain hunting

Salzer Electronics gained 4.09% to Rs 217.60 at 14:21 IST on BSE, with the stock gaining on bargain hunting after recent decline.

Meanwhile, the BSE Sensex was down 48.97 points, or 0.18%, to 27,159.64

On BSE, so far 1.17 lakh shares were traded in the counter, compared with an average volume of 62,635 shares in the past one quarter.

The stock hit a high of Rs 228.70 and low of Rs 211.30 so far during the day. The stock hit a record high of Rs 280.20 on 19 December 2014. The stock hit a 52-week low of Rs 51.50 on 27 January 2014.

The stock had outperformed the market over the past one month till 24 December 2014, rising 11.34% compared with Sensex's 4.53% fall. The scrip had also outperformed the market in past one quarter, gaining 20.07% as against Sensex's 1.73% rise.

The small-cap company has an equity capital of Rs 10.28 crore. Face value per share is Rs 10.

Shares of Salzer Electronics had declined 24.57% in three trading sessions to Rs 209.05 on 24 December 2014 from recent high of Rs 277.15 on 19 December 2014.

Salzer Electronics' net profit rose 65.5% to Rs 3.26 crore on 4.4% fall in net sales to Rs 66.45 crore in Q2 September 2014 over Q2 September 2013.

Salzer Electronics was established in 1985 to design and manufacture of world-class Cam Operated Rotary Switches in Technical Collaboration with Saelzer Schaltgerate Fabrik, GmbH., Germany.

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