India Nippon Electricals spurts after stock-split plan

India Nippon Electricals jumped 9.13% to Rs 1,193.05 at 09:28 IST on BSE after the company scheduled a board meeting on 29 January 2018 to consider the proposal of sub-division of equity shares of the company.

The announcement was made after trading hours yesterday, 10 January 2018.

Meanwhile, the S&P BSE Sensex was down 0.41 points at 34,432.66. The S&P BSE Small-Cap index was up 37.77 points or 0.19% at 19,941.08.

On the BSE, 8,240 shares were traded on the counter so far as against average daily volumes of 4406 shares in the past one quarter. The stock had hit a high of Rs 1,200 and a low of Rs 1,145 so far during the day. The stock had hit a record high of Rs 1,424.80 on 30 October 2017 and a 52-week low of Rs 505 on 9 March 2017.

 

The small-cap company has equity capital of Rs 11.31 crore. Face value per share is Rs 10.

India Nippon Electricals' net profit rose 4.5% to Rs 11.17 crore on 23% growth in net sales to Rs 117.55 crore in Q2 September 2017 over Q2 September 2016.

India Nippon Electricals makes electronic ignition systems for two-wheelers, three wheelers and portable engines.

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