Swaraj Engines hits record high

Swaraj Engines surged 14.67% to Rs 1,896 at 10:14 IST on BSE after net profit rose 29.8% to Rs 15.28 crore on 41% growth in net sales to Rs 160.77 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 128.90 points or 0.43% at 30,072.14. The S&P BSE Small-Cap index was up 85.19 points or 0.55% at 15,465.08.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 920 shares in the past one quarter. The stock had hit a high of Rs 1,984.20 so far during the day, which is a record high. The stock hit a low of Rs 1,718 so far during the day.

The stock had hit a 52-week low of Rs 1,079.75 on 16 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 17.91% compared with the Sensex's 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 16.83% as against the Sensex's 8.07% rise.

The small-cap company has equity capital of Rs 12.42 crore. Face value per share is Rs 10.

Swaraj Engines is in the business of supplying engines to the Swaraj division of Mahindra & Mahindra. The company also manufactures hi-tech engine components for SML Isuzu.

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