Setco Automotive spurts 24.7% in two sessions

Setco Automotive advanced 9.4% to Rs 52.35 at 10:52 IST on BSE, with the stock extending Monday's rally triggered by the company reporting strong Q2 September 2017 earnings.

Meanwhile, the S&P BSE Sensex was down 90.44 points or 0.28% at 32,779.28. The S&P BSE Small-Cap index fell 0.4%, underperforming the Sensex.

On the BSE, 15.25 lakh shares were traded on the counter so far as against average daily volumes of 7.73 lakh shares in the past two weeks. The stock had hit a high of Rs 52.60 so far during the day, which is a 52-week high. The stock hit a low of Rs 46.50 so far during the day. The stock had hit a 52-week low of Rs 33.45 on 27 March 2017.

The stock had outperformed the market over the past one month till 4 December 2017, advancing 19.62% compared with the Sensex's 2.42% fall. The stock had also outperformed the market over the past one quarter, gaining 22.38% as against the Sensex's 3.68% rise. The scrip had also outperformed the market over the past one year, advancing 26.09% as against the Sensex's 25.31% rise.

The small-cap company has equity capital of Rs 26.72 crore. Face value per share is Rs 2.

Shares of Setco Automotive have rallied 24.79% in two trading sessions to its ruling market price, from its closing of Rs 41.95 on 1 December 2017 after the company announced strong Q2 September 2017 results after market hours on Friday, 1 December 2017. The stock had rallied 14.06% to settle at Rs 47.85 yesterday, 4 December 2017.

Setco Automotive's net profit surged 1304.1% to Rs 13.76 crore on 31.1% growth in net sales to Rs 134.65 crore in Q2 September 2017 over Q2 September 2016.

Setco Automotive is engaged in the manufacturing of premium quality Lipe brand clutches for commercial vehicles in India.

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