Setco Automotive surges ahead of NSE listing

Setco Automotive surged 7.91% to Rs 52.55 at 15:12 IST on BSE, after the company said that it has received approval for listing its shares on the National Stock Exchange with effect from Friday, 1 July 2016.

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 283.08 points, or 1.06% to 27,023.47

On BSE, so far 10.79 lakh shares were traded in the counter as against an average daily volume of 1.34 lakh shares in the past one quarter. The stock hit a high of Rs 54.60 so far during the day, also its 52-week high. The stock hit a low of Rs 50.70 so for during the day. The stock had hit a 52-week low of Rs 28.10 on 30 March 2016.

The company's equity capital is Rs 26.72 crore. Face value per share is Rs 2.

Setco Automotive said that the National stock Exchange of India (NSE) has granted its Listing permission to list and admit the equity shares of the company on its bourse with efffect from 1 July 2016. The stock shall be traded in the normal market segment (rolling settlement) in compulsory demat for all investors on the National Stock Exchange (NSE).

Secto Automotive's net profit jumped 451.85% to Rs 16.39 crore on 34.55% surge in net sales to Rs 175.21 crore in Q4 March 2016 over Q4 March 2015.

Secto Automotive is the largest manufacturer of premium quality Lipe brand clutches for commercial vehicles in India.

Powered by Capital Market - Live News