Mahindra CIE Automotive gains after strong Q2 result

Mahindra CIE Automotive rose 1.46% to Rs 262.95 at 11:18 IST on BSE after net profit surged 148.44% to Rs 43.85 crore on 44.38% rise in total income to Rs 655.15 crore in Q2 June 2018 over Q2 June 2017.

The result was announced after market hours yesterday, 18 July 2018.

Meanwhile, the S&P BSE Sensex was up 87.67 points, or 0.24% to 36,461.11

On the BSE, 48,000 shares were traded in the counter so far compared with average daily volumes of 21,000 shares in the past two weeks. The stock had hit a high of Rs 266.25 and a low of Rs 256.90 so far during the day. The stock hit a 52-week high of Rs 276.65 on 21 June 2018. The stock hit a 52-week low of Rs 199.20 on 9 February 2018.

 

The mid-cap company has equity capital of Rs 378.55 crore. Face value per share is Rs 10.

Mahindra CIE is a multi-technology automotive components supplier.

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