Sundram Fasteners gains after strong Q4 outcome

Sundram Fasteners rose 2.54% to Rs 165.65 at 14:42 IST on BSE after net profit jumped 372% to Rs 75.39 crore on 17.3% growth in total revenue to Rs 720.69 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 20 May 2016.

Meanwhile, the S&P BSE Sensex was down 70.28 points or 0.28% at 25,329.44.

On BSE, so far 1.11 lakh shares were traded in the counter as against average daily volume of 17,923 shares in the past one quarter. The stock hit a high of Rs 172.95 and a low of Rs 161.55 so far during the day. The stock had hit a 52-week high of Rs 189.50 on 11 September 2015. The stock had hit a 52-week low of Rs 135 on 29 February 2016. The stock had underperformed the market over the past one month till 19 May 2016, sliding 4.18% compared with Sensex's 1.61% fall. The scrip had, however, outperformed the market in past one quarter, advancing 13.25% as against Sensex's 7.13% rise.

The mid-cap company has equity capital of Rs 21.01 crore. Face value per share is Rs 1.

Sundram Fasteners said it is well poised to take advantage of the business opportunities due to steady investments in capacity creation over the years. Sundram Fasteners expects an upsurge in the automotive sector in the long run, which augurs well for the performance of the company.

Sundram Fasteners is a part of TVS Group. The company is engaged in the manufacturing of automotive and engineering components.

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