Sharda Motor hits record high after strong Q4 results

Sharda Motor Industries jumped 6.79% to Rs 2,290.50 at 11:07 IST on BSE, with the stock extending yesterday's rally triggered by the company reporting strong Q4 March 2017 results.

Meanwhile, the S&P BSE Sensex was up 20.11 points, or 0.06% at 31,165.91. The S&P BSE Small-Cap index was up 125.56 points, or 0.83% at 15,205.77.

High volumes were traded on the counter. On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 1,990 shares in the past one quarter. The stock had hit a high of Rs 2,408 so far during the day, which is also its record high. The stock had hit a low of Rs 2,220 so far during the day.

The stock had hit a 52-week low of Rs 801.05 on 24 June 2016. The stock had outperformed the market over the past one month till 31 May 2017, advancing 11.98% compared with the Sensex's 4.1% rise. The scrip had also outperformed the market over the past one quarter advancing 58.14% as against the Sensex's 8.36% rise.

The small-cap company has equity capital of Rs 5.95 crore. Face value per share is Rs 10.

Shares of Sharda Motor Industries company have rallied 28.14% in the two trading sessions from its close of Rs 1,787.45 on 30 May 2017, after the company after market hours on Tuesday, 30 May 2017 reported strong Q4 March 2017 results. The stock had surged 20% to settle at Rs 2,144.90 yesterday, 31 May 2017.

Sharda Motor Industries' net profit spurted 131.79% to Rs 19.47 crore on 14.71% increase in total revenue to Rs 291.11 crore in Q4 March 2017 over Q4 March 2016.

Sharda Motor Industries operates in the automotive industry. The company is one of the leading manufacturers of exhaust systems, suspension systems, seat trim and seat frames.

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