Timken India declines after bulk deal

Timken India fell 1.63% to Rs 416.70 at 15:11 IST on BSE after 0.45% equity changed hands in a bulk deal on BSE today, 28 October 2014.

A bulk deal of 3.12 lakh shares was executed on Timken India counter at Rs 424.10 per share at 10:27 IST on BSE today, 28 October 2014.

Meanwhile, the S&P BSE Sensex was up 120.21 points or 0.45% at 26,873.11

Bulk deal boosted volume on the scrip. On BSE, so far 3.96 lakh shares were traded in the counter as against average daily volume of 1.06 lakh shares in the past one quarter.

The stock hit a high of Rs 433 and a low of Rs 412.55 so far during the day. The stock hit a record high of Rs 482.90 on 27 August 2014. The stock hit a 52-week low of Rs 152.30 on 22 November 2013.

The stock had outperformed the market over the past one month till 27 October 2014, rising 5.31% compared with 0.48% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 24.13% as against Sensex's 2.4% rise.

The small-cap company has an equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India's net profit jumped 114.5% to Rs 25.95 crore on 34.4% rise in net sales to Rs 226.21 crore in Q1 June 2014 over Q1 June 2013.

US-based Timken Company, a major manufacturer and supplier of bearings, alloy steel, power transmission components holds 75% in Timken India (as per the shareholding pattern as on 30 September 2014).

Powered by Capital Market - Live News