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LG Balakrishnan rallies 26.1% in 9 sessions

Capital Market 

Balakrishnan & Bros surged 6.58% to Rs 866.25 at 12:50 on BSE, with the stock hitting record high on the back of solid rally.

Meanwhile, the S&P Sensex was up 219.16 points or 0.68% at 32,401.38. The S&P Small-Cap index advanced 83.71 points or 0.5% at 16,987.36.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 4,254 shares in the past one quarter. The stock had hit a high of Rs 874 so far during the day, which is a record high. The stock hit a low of Rs 820 so far during the day. The stock had hit a 52-week low of Rs 512.05 on 26 December 2016.

The stock had outperformed the market over the past one month till 12 October 2017, advancing 12.46% compared with the Sensex's 0.07% rise. The stock had also outperformed the market over the past one quarter, gaining 4.05% as against the Sensex's 1.19% rise. The scrip had also outperformed the market over the past one year, advancing 32.26% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 15.70 crore. Face value per share is Rs 10.

Shares of Balakrishnan & Bros have rallied 26.18% in nine trading sessions to its ruling market price, from its close of Rs 686.50 on 29 September 2017.

Balakrishnan & Bros' net profit rose 21.8% to Rs 11.13 crore on 7.6% growth in net sales to Rs 279.04 crore in Q1 June 2017 over Q1 June 2016.

LG Balakrishnan & Bros is India's leading roller chain manufacturer. The company is premier manufacturer of automotive chains under the brand name 'ROLON'.

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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. 12:51 IST