Shanthi Gears slides after multiple bulk deals

Shanthi Gears lost 2.14% to Rs 80.05 at 15:21 IST on BSE after three bulk deal aggregating to 8 lakh shares were executed on the counter at 9:52 IST on BSE today, 22 March 2016.

A bulk deal of 2 lakh shares was executed at Rs 81.25 per share. Another two bulk deals of 2 lakh shares and 4 lakh shares were executed at Rs 80 per share.

Meanwhile, the S&P BSE Sensex was up 78.45 points or 0.31% at 25,363.82.

On BSE, so far 9.03 lakh shares were traded in the counter as against average daily volume of 6,010 shares in the past one quarter. The stock hit a high of Rs 82 and a low of Rs 79 so far during the day. The stock had hit a 52-week low of Rs 78 on 25 February 2016. The stock had hit a 52-week high of Rs 129.40 on 7 April 2015. The stock had underperformed the market over the past one month till 21 March 2016, sliding 0.73% compared with Sensex's 6.65% rise. The scrip had also underperformed the market in past one quarter, declining 19.96% as against Sensex's 1.75% fall.

The small-cap company has equity capital of Rs 8.17 crore. Face value per share is Rs 1.

Shanthi Gears' net profit rose 37% to Rs 5.15 crore on 0.5% growth in net sales to Rs 42.69 crore in Q3 December 2015 over Q3 December 2014.

Shanthi Gears manufactures a wide range of power transmission products which includes gears, gear boxes, geared motors and gear assemblies both standard and custom-made.

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