Shivam Autotech gains momentum on robust sales in Dec

Shivam Autotech rose 2.48% to Rs 101.10 at 14:07 IST on BSE after the company announced that it has achieved around 35% increase in sales in December 2017 over December 2016.

The announcement was made during market hours today, 2 January 2018.

Shivam Autotech said that sales rose around 18% in Q3 December 2017 over Q3 December 2016.

Meanwhile, the BSE Sensex was down 71.88 points, or 0.21%, to 33,740.87. The BSE Small-Cap index was down 170.19 points, or 0.88%, to 19,109.77, underperforming the Sensex.

High volumes were witnessed on the counter. On the BSE, 2.24 lakh shares were traded in the counter so far, compared with an average volume of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 104.20 and low of Rs 96.30 so far during the day. The stock had hit a record high of Rs 108.15 on 23 October 2017. The stock had hit a 52-week low of Rs 41.60 on 30 December 2016.

The stock has surged 12.33% in three sessions to its ruling price, from a close of Rs 90 on 28 December 2017.

The stock had outperformed the market over the past one month till 1 January 2018, gaining 13.59% compared with 2.98% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.58% as against Sensex's 8.08% rise. The scrip had also outperformed the market in past one year, jumping 130.22% as against Sensex's 26.99% rise.

The small-cap company has an equity capital of Rs 20 crore. Face value per share is Rs 2.

Shivam Autotech's net profit surged 494.7% to Rs 5.65 crore on 20.4% rise in net sales to Rs 144.18 crore in Q2 September 2017 over Q2 September 2016.

Shivam Autotech is one of the largest manufacturers of transmission gears and shafts in India.

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