Jay Bharat Maruti hits 52-week low after weak Q1 results

Jay Bharat Maruti declined 2.5% to Rs 185 at 10:49 IST on the BSE after consolidated net profit declined 41.6% to Rs 7.85 crore on a 12.5% fall in net sales to Rs 442.93 crore in Q1 June 2019 over Q1 June 2018.

The announcement was made after market hours, yesterday, 16 July 2019.

Meanwhile, the S&P BSE Sensex was up by 98.84 points or 0.25% to 39,229.88.

On the BSE, 2607 shares were traded in the counter so far compared with average daily volumes of 1612 shares in the past two weeks. The stock had hit a high of Rs 189.55 in intraday today. The stock had hit a low of Rs 181 in intraday today, which is also 52-week low for the counter. The stock hit a 52-week high of Rs 495 on 24 July 2018.

 

In a separate announcement, the company said its board approved issuing securities for an amount not exceeding Rs 150 crore.

Jay Bharat Maruti manufactures sheet metal components, assemblies and sub-assemblies. It is a dedicated ancillary to Maruti Udyog.

Powered by Capital Market - Live News