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Atul Auto advances as Birla Sunlife MF increases stake

Capital Market 

Auto rose 2.86% to Rs 475 at 11:54 on after Birla Sunlife Mutual Fund increased stake in the company via purchase of bulk

Meanwhile, the S&P Sensex was up 238.13 points or 0.74% at 32,420.35. The S&P Small-Cap advanced 87.40 points or 0.52% at 16,991.05.

On the BSE, 11,000 were traded on the counter so far as against the average daily volumes of 13,291 in the past one quarter. The stock had hit a high of Rs 480 and a low of Rs 472.50 so far during the day. The stock had hit a 52-week high of Rs 512 on 1 November 2016 and a 52-week low of Rs 389.85 on 30 June 2017.

The stock had underperformed the market over the past one month till 12 October 2017, sliding 4.71% compared with the Sensex's 0.07% rise. The stock had, however, outperformed the market over the past one quarter, advancing 10.62% as against the Sensex's 1.19% rise. The scrip had underperformed the market over the past one year, declining 5.22% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 10.97 crore. Face value per share is Rs 5.

Goldman Sachs India sold 2.94 lakh shares of Auto at Rs 463.05 per share in a bulk deal on the NSE yesterday, 12 October 2017. Birla Sunlife Mutual Fund bought 1.75 lakh shares at Rs 463 a piece.

Birla Sunlife Trustee Company A/C Birla Sunlife Resurgent India Fund - Series 4 held 4.33% stake and Goldman Sachs India owned 3.25% in Auto as per the shareholding pattern as on 30 September 2017.

Atul Auto's net profit rose 61.7% to Rs 7.81 crore on 25% growth in net sales to Rs 115.53 crore in Q1 June 2017 over Q1 June 2016.

Atul Auto manufactures three wheeler auto vehicles.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 12:00 IST