Rico Auto Industries rose 5.6% to Rs 44.35 at 12:12 IST on BSE after the company said it has laid the foundation stone on 7 July 2016, for a new manufacturing plant at Pathredi, Bhiwadi in Rajasthan for the manufacturing of auto components.
The announcement was made after market hours yesterday, 11 July 2016.Meanwhile, the S&P BSE Sensex was up 98.56 points or 0.36% at 27,725.25.
On BSE, so far 4.99 lakh shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 45.10 and a low of Rs 43 so far during the day. The stock had hit a 52-week high of Rs 63.90 on 10 August 2015. The stock had hit a 52-week low of Rs 27.70 on 29 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 18.81% compared with Sensex's 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 10.82% as against Sensex's 10.41% rise.
The small-cap company has equity capital of Rs 13.53 crore. Face value per share is Rs 1.
Rico Auto said that the factory premises is being built on a plot of 11.3 acres. Latest manufacturing technology would be implemented in the new facility. The company is hopeful to start commercial production at the new plant by the next financial year.
On consolidated basis, Rico Auto Industries reported net profit of Rs 6.98 crore in Q4 March 2016 compared with net loss of Rs 7.18 crore in Q4 March 2015. Net sales rose 9.1% to Rs 247.14 crore in Q4 March 2016 over Q4 March 2015.
Rico Auto Industries supplies a wide range of high precision fully machined aluminum and ferrous components and assemblies to automotive original equipment manufacturers (OEMs) across the globe.
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