Sundaram Brake Linings tumbles after poor Q2 figures

Sundaram Brake Linings was locked at 5% lower circuit at Rs 650.75 at 12:38 IST on BSE after net profit fell 56.8% to Rs 0.54 crore on 1.5% decline in net sales to Rs 61.70 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 9 November 2017.

Meanwhile, the S&P BSE Sensex was down 44.06 points or 0.13% at 33,206.87. The S&P BSE Small-Cap index advanced 61.86 points or 0.35% at 17,693.23, outperforming the Sensex.

On the BSE, 1,578 shares were traded on the counter so far as against average daily volumes of 5,149 shares in the past one quarter. The stock had hit a high of Rs 664.60 and a low of Rs 650.75 so far during the day. The stock had hit a record high of Rs 836.45 on 9 October 2017 and a 52-week low of Rs 361.05 on 23 March 2017.

The stock had underperformed the market over the past one month till 9 November 2017, sliding 12.16% compared with the Sensex's 4.41% rise. The stock had, however, outperformed the market over the past one quarter, gaining 30.64% as against the Sensex's 4.57% rise. The scrip had also outperformed the market over the past one year, advancing 44.75% as against the Sensex's 22.01% rise.

The small-cap company has equity capital of Rs 3.93 crore. Face value per share is Rs 10.

Sundaram Brake Linings manufactures automotive, non-automotive, railways and industrial friction materials.

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