Honda Siel Power hits record high after stellar Q2 earnings

Honda Siel Power Products surged 8.08% to Rs 1,686.90 at 12:38 IST on BSE after net profit jumped 107.7% to Rs 17.90 crore on 21.9% growth in net sales to Rs 179.14 crore in Q2 September 2016 over Q2 September 2015.

The result was announced on Saturday, 5 November 2016.

Meanwhile, the S&P BSE Sensex was up 240.97 points or 0.88% at 27,515.12.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 4,029 shares in the past one quarter. The stock hit a high of Rs 1,750 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,632 so far during the day. The stock had hit a 52-week low of Rs 1,075.75 on 26 February 2016. The stock had outperformed the market over the past one month till 4 November 2016, advancing 13.14% compared with 3.74% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 31.16% as against Sensex's 1.59% fall.

 

The small-cap company has equity capital of Rs 10.14 crore. Face value per share is Rs 10.

Honda Siel Power Products is a manufacturer of power products and is a subsidiary of Honda Motor Co. Japan.

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