Suprajit Engineering hits record high

Suprajit Engineering surged 4.58% to Rs 73 at 14:38 IST on BSE after the company said its consolidated sales grew by 18% in the year ended 31 March 2014 over the year ended 31 March 2013.

The company made the announcement during trading hours today, 4 April 2014.

Meanwhile, the S&P BSE Sensex was down 131.71 points or 0.59% at 22,377.36.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 18,343 shares in the past one quarter.

The stock hit a high of Rs 74.15 so far during the day, which is a record high for the counter. The stock hit a low of Rs 69 so far in the day. The stock had hit a 52-week low of Rs 31.55 on 21 August 2013.

The stock had outperformed the market over the past one month till 3 April 2014, surging 21.6% compared with the Sensex's 7.46% rise. The scrip had also outperformed the market in past one quarter, jumping 29.5% as against Sensex's 7.95% rise.

The small-cap company has equity capital of Rs 12 crore. Face value per share is Re 1.

Suprajit Engineering's sales grew by 15% in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

Suprajit Engineering said that the automotive industry in India grew by less than 5% during the year, 2013-14.

Suprajit Engineering's consolidated net profit surged 47% to Rs 16.15 crore on 29.8% growth in net sales to Rs 159.01 crore in Q3 December 2013 over Q3 December 2012.

Suprajit Engineering is India's largest automotive cable maker with an annual cable capacity of 150 million cables. Suprajit group has 15 plants of which 14 are in India and one is in the UK, which also operates as a Tech Centre.

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