Timken India gains after good Q1 results

Timken India rose 1.86% to Rs 576.55 at 14:13 IST on BSE after net profit rose 20.23% to Rs 28.35 crore on 8.79% increase in net sales to Rs 296.90 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during trading hours today, 9 September 2016.

Meanwhile, the BSE Sensex was down 148.63 points, or 0.51%, to 28,896.65.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 6,514 shares in the past one quarter. The stock hit a high of Rs 593 and a low of Rs 565 so far during the day. The stock hit a 52-week high of Rs 632 on 8 October 2015. The stock hit a 52-week low of Rs 400.50 on 18 March 2016. The stock had underperformed the market over the past 30 days till 8 September 2016, rising 0.88% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.58% as against Sensex's 9.05% rise.

 

The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India manufactures anti-friction bearings.

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