Timken India gains on good Q2 result

Timken India rose 1.6% to Rs 426 at 11:05 IST on BSE after the company's net profit rose 57.07% to Rs 20.75 crore on 30.64% rise in total income from operations (net) to Rs 233.99 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours on Monday, 10 November 2014.

Meanwhile, the S&P BSE Sensex was up 95.05 points or 0.34% at 27,969.82.

On BSE, so far 78,837 shares were traded in the counter as against average daily volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 440 and a low of Rs 419.05 so far during the day. The stock had hit a record high of Rs 482.90 on 27 August 2014. The stock had 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 10 November 2014, advancing 6.5% compared with the Sensex's 6% rise. The scrip had also outperformed the market in past one quarter, jumping 37.86% as against Sensex's 10.05% rise.

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

Timken India said that the board of directors of the company at its meeting held on 10 November 2014, inter alia, has declared to pay an interim dividend of Rs 3 per share for the year ending 31 March 2014 (FY 2015).

The Timken Company is a manufacturer of highly engineered bearings, alloy steels, and related components and assemblies.

Powered by Capital Market - Live News