Shanthi Gears slumps after poor Q2 results

Shanthi Gears lost 2.05% at Rs 119.45 at 13:13 IST on BSE after net profit fell 66.27% to Rs 2.27 crore on 9.49% decline in total income from operations to Rs 37.73 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 27 October 2014.

Meanwhile, the S&P BSE Sensex was up 11.91 points or 0.04% at 26,862.96.

On BSE, so far 49,000 shares were traded in the counter as against average daily volume of 38,562 shares in the past one quarter.

The stock tumbled as much as 7.13% at the day's low of Rs 113.25 so far during the day. The stock rose as much as 0.12% at the day's high of Rs 122.10 so far during the day. The stock had hit a record high of Rs 128.70 on 5 September 2014. The stock had hit a 52-week low of Rs 55.15 on 24 October 2013.

The stock had outperformed the market over the past one month till 23 October 2014, surging 7.63% compared with Sensex's 0.28% rise. The scrip had also outperformed the market in past one quarter, jumping 36.26% as against Sensex's 2.69% rise.

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

Shanthi Gears manufactures a wide range of products that include gears, gear boxes, geared motors and gear assemblies.

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