Mahindra CIE Automotive rose 1.78% to Rs 77 at 9:54 IST on BSE after Sundaram Mutual Fund acquired 15.02 lakh shares, or 1.63% stake, in the company through a block deal on NSE on Tuesday, 25 February 2014.
Meanwhile, the BSE Sensex was up 84.31 points, or 0.40%, to 20,936.78.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 14,720 shares in the past one quarter.
The stock hit a high of Rs 79.95 and a low of Rs 73 so far during the day. The stock hit a 52-week high of Rs 78.80 on 25 February 2014. The stock hit a 52-week low of Rs 35.50 on 8 April 2013.
The stock had outperformed the market over the past one month till 25 February 2014, rising 40.09% compared with the Sensex's 1.33% fall. The scrip had outperformed the market in past one quarter, rising 65.17% as against Sensex's 1.20% rise.
The small-cap company has an equity capital of Rs 92.26 crore. Face value per share is Rs 10.
On Tuesday, 25 February 2014, Sundaram Mutual Fund (Sundaram Select Midcap Fund) bought 15.02 lakh shares, or 1.63% stake, of Mahindra CIE Automotive at Rs 64 each.
However, Scholz AG sold its entire stake of 21.97 lakh shares, or 2.38% equity, of Mahindra CIE Automotive at Rs 64.01 each on NSE.
Net profit of Mahindra CIE Automotive declined 86.35% to Rs 1.50 crore on 17.61% decline in net sales to Rs 80.82 crore in Q3 December 2013 over Q3 December 2012.
Mahindra CIE Automotive is the fastest emerging global leader in forging business with plants in Germany, UK and India. The firm is engaged into the manufacturing of forged and machined products for automotive, agriculture, railway, mining, construction and other industries.
Powered by Capital Market - Live News
