Sona Koyo spurts to 52-week high on blockbuster Q2 outcome

Sona Koyo Steering Systems surged 11.21% to Rs 14.98 at 15:12 IST on BSE, after consolidated net profit jumped 82.61% to Rs 12.6 crore on 16.93% rise in net sales to Rs 383.9 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced during market hours today, 6 November 2013.

Meanwhile, the S&P BSE Sensex was down 81.35 points, or 0.39% to 20,893.44

On BSE, 7.92 lakh shares were traded in the counter as against an average daily volume of 65,384 shares in the past one quarter.

The stock hit a 52-week high of Rs 15.24 in intraday trade today, 6 November 2013. The stock hit a low of 13.25 so far during the day. The stock hit a 52-week low of Rs 9 on 27 September 2013.

The small-cap stock outperformed the market over the past one month till 5 November 2013, rising 38.87% compared with the Sensex's 5.32% rise. The scrip also outperformed the market in past one quarter, advancing 40.02% as against Sensex's 9.34% rise.

The company has an equity capital of Rs 19.87 crore. Face value per share is Re 1.

Sona Koyo Steering Systems is India's largest manufacturer of steering systems and is the supplier of choice to major auto manufacturers with over 45% domestic market share, supplying steering gears, columns and RPS assemblies to almost all Indian passenger car and utility vehicle manufacturers.

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