Fiem Industries jumped 4.02% to Rs 422 at 14:32 IST on BSE after the company said it purchased a 7.65 acre land in Ahemadabad, Gujarat for setting up a new factory.
The company made the announcement after market hours on Wednesday, 26 March 2014. On Thursday, 27 March 2014, the stock fell 0.90% to Rs 405.70 after rising as much as 2.21% during the intraday.
Meanwhile, the BSE Sensex was up 10.35 points, or 0.05%, to 22,224.72.
On BSE, so far 36,000 shares were traded in the counter, compared with an average volume of 18,253 shares in the past one quarter.
The stock hit a high of Rs 428 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 405 so far during the day. The stock hit a 52-week low of Rs 179.05 on 4 September 2013.
The stock had outperformed the market over the past one month till 27 March 2014, rising 5.68% compared with the Sensex's 5.85% rise. The scrip had also outperformed the market in past one quarter, rising 17.66% as against Sensex's 4.82% rise.
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The small-cap company has an equity capital of Rs 11.96 crore. Face value per share is Rs 10.
Fiem Industries said that the land is at strategic location near upcoming factory of the company's esteemed customer Honda Motorcycle & Scooter India (HMSI).
In this new plant, the company will be manufacturing and supplying automotive lighting & signaling equipments, rear view mirrors and plastic molded parts to upcoming factory of the company's esteemed customer HMSI in Gujarat.
Net profit of Fiem Industries rose 55.29% to Rs 10.28 crore on 25.24% rise in net sales to Rs 186.97 crore in Q3 December 2013 over Q3 December 2012.
Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipments and rear view mirrors. Its major business comes from the two-wheeler segment of the vehicle industry. It makes a wide range of lighting systems, rear view mirrors, sheet metals parts and plastic components for automobiles.
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