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BSE   24 May 17 | 04:01 PM

720.00 -9.3 (-1.28%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 505010
Face Value: N.A.

NSE   24 May 17 | 03:57 PM

721.25 -11.1 (-1.52%)
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Code: AUTOAXLES
Performance
1 Week : Rs 700.15 (2.84%)
1 Month : Rs 715.40 (0.64%)
1 Year : Rs 633.65 (13.63%)
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Automotive Axles, Harita Seating Systems rally on good Q4 results

SI Reporter / Mumbai 19 May 17 | 10:50 AM

Shares of auto ancillaries companies such as Automotive Axles and Harita Seating Systems rallied by up to 15% on the BSE in intra-day trade after reporting a strong set of numbers for the quarter ended March 2017 (Q4FY17).

Automotive Axles hit a 52-week high of Rs 803, up 15% on BSE in early morning trade, after the company posted 59% growth in net profit at Rs 17.27 crore in Q4FY17. It had profit of Rs 10.87 crore in the same quarter year ago.

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Net operational revenue grew 12% to Rs 351 crore against Rs 312 crore in the corresponding quarter of previous fiscal.

The board of directors of the company has recommended a dividend of Rs 8 per share of Rs 10 each for the financial year 2016-17.

Harita Seating Systems surged 8% to Rs 739 after earnings before interest, tax, depreciation and amortization (Ebitda) increased by 45% to Rs 9.54 crore in Q4FY16 from Rs 6.57 crore in Q3FY16. 

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