Sundram Fasteners spurts after strong Q2 earnings

Sundram Fasteners jumped 5.9% to Rs 342 at 14:45 IST on BSE after net profit surged 82.47% to Rs 76.93 crore on 11.79% growth in revenue from operations to Rs 738.21 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 2 November 2016.

Meanwhile, the S&P BSE Sensex was down 253.04 points or 0.91% at 27,623.57.

On BSE, so far 4.82 lakh shares were traded in the counter as against average daily volume of 95,133 shares in the past one quarter. The stock hit a high of Rs 354.40 so far during the day, which is a record high for the counter. The stock hit a low of Rs 313.30 so far during the day. The stock had hit a 52-week low of Rs 135 on 29 February 2016. The stock had outperformed the market over the past one month till 1 November 2016, advancing 10.49% compared with 0.04% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 66.43% as against Sensex's 0.45% fall.

 

The mid-cap company has equity capital of Rs 21.01 crore. Face value per share is Rs 1.

Sundram Fasteners' earnings before interest, taxation and depreciation rose 36.5% to Rs 141.51 crore in Q2 September 2016 over Q2 September 2015.

Sundram Fasteners is a part of TVS Group. The company is engaged in the manufacturing of automotive and engineering components.

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