Mahindra CIE Automotive gains after decent Q4 outcome

Mahindra CIE Automotive rose 1% to Rs 228.50 at 14:35 IST on BSE after net profit rose 33.91% to Rs 14.65 crore on 39.62% rise in net sales to Rs 561.50 crore in Q4 December 2017 over Q4 December 2016.

The result was announced after market hours yesterday, 20 February 2018.

Meanwhile, the S&P BSE Sensex was up 88.56 points, or 0.26% to 33,792.15.

On the BSE, 46,000 shares were traded in the counter so far compared with average daily volumes of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 238.60 and a low of Rs 227.55 so far during the day. The stock hit a 52-week high of Rs 270.05 on 26 December 2017. The stock hit a 52-week low of Rs 198 on 2 March 2017.

 

The stock had outperformed the market over the past 30 days till 20 February 2018, falling 5.09% compared with 5.85% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 5.79% as against Sensex's 0.42% rise. The scrip had also underperformed the market in past one year, rising 8.12% as against Sensex's 17.18% rise.

The mid-cap company has equity capital of Rs 378.37 crore. Face value per share is Rs 10.

Mahindra CIE Automotive's net profit rose 34.69% to Rs 69.30 crore on 21.69% rise in net sales to Rs 1960.67 crore in the year ended December 2017 over the year ended December 2016.

Mahindra CIE is a multi-technology automotive components supplier.

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