Hindustan Composites spurts after strong Q1 earnings

Hindustan Composites rose 16% to Rs 1,540 on the BSE after net profit rose 94.79% to Rs 12.35 crore on 41.82% rise in net sales to Rs 51.07 crore in Q1 June 2016 over Q1 June 2015.

On BSE, so far 6,161 shares were traded in the counter, compared with average daily volume of 343 shares in the past one quarter. The stock hit a high of Rs 1,591.25 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,399 so far during the day.

The stock hit a 52-week low of Rs 750 on 8 April 2016. The stock had underperformed the market over the past 30 days till 8 September 2016, rising 3.68% compared with 4.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.61% as against Sensex's 9.05% rise.

The small-cap company has equity capital of Rs 4.92 crore. Face value per share is Rs 10. Hindustan Composites is a pioneer in the development, manufacture & marketing of industrial products and friction materials in India.