Autoline Industries jumped 6.40% to Rs 74 at 10:51 IST on BSE, extending recent gains ahead of the company's board meeting today, 11 March 2014, to explore various avenues of raising funds to meet the funding requirements of the company.
The announcement was made after market hours on Tuesday, 4 March 2014. Shares of Autoline Industries have risen 14.46% in five consecutive sessions from Rs 64.65 on 4 March 2014.
Meanwhile, the BSE Sensex was down 72.83 points, or 0.33%, to 21,862.
On BSE, so far 2.05 lakh shares were traded in the counter, compared with an average volume of 47,100 shares in the past one quarter.
The stock hit a high of Rs 76.30 and a low of Rs 70.75 so far during the day. The stock hit a 52-week high of Rs 133.70 on 22 April 2013. The stock hit a 52-week low of Rs 46.05 on 7 August 2013.
The stock had underperformed the market over the past one month till 10 March 2014, rising 4.12% compared with the Sensex's 7.87% rise. The scrip had also underperformed the market in past one quarter, falling 15.85% as against Sensex's 3.20% rise.
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The small-cap company has an equity capital of Rs 12.29 crore. Face value per share is Rs 10.
Autoline Industries said that a meeting of its board of directors will be held today, 11 March 2014, inter alia, to explore various avenues of raising funds to meet the funding requirements of the company by way of full disinvestment of stock/shares in Autoline Industries Inc., USA.
Autoline Industries reported a consolidated net loss of Rs 11.26 crore in Q3 December 2013 as against net profit of Rs 0.60 crore in Q3 December 2012. Net sales declined 12.7% to Rs 164.63 crore in Q3 December 2013 over Q3 December 2012.
Autoline Industries is engaged in manufacturing various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two wheelers, three wheelers, tractors, etc.
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