Sharda Motor Industries lost 0.79% to Rs 2,950 at 10:16 IST on BSE, with the stock sliding on profit booking after recent rally.
Meanwhile, the S&P BSE Sensex was down 176.11 points or 0.55% at 31,633.44. The S&P BSE Small-Cap index declined 8.97 points or 0.06% at 16,184.21.
On the BSE, 1,078 shares were traded on the counter so far as against the average daily volumes of 1,624 shares in the past one quarter. The stock had hit a high of Rs 2,969.95 and a low of Rs 2,915.70 so far during the day. The stock had hit a record high of Rs 3,099.65 yesterday, 5 September 2017 and a 52-week low of Rs 950.10 on 27 December 2016.
The stock had outperformed the market over the past one month till 5 September 2017, advancing 11.05% compared with the Sensex's 1.6% fall. The stock had also outperformed the market over the past one quarter, gaining 14.29% as against the Sensex's 1.6% rise. The scrip had also outperformed the market over the past one year, advancing 153.54% as against the Sensex's 11.49% rise.
The small-cap company has equity capital of Rs 5.95 crore. Face value per share is Rs 10.
Shares of Sharda Motor Industries had risen 16.69% in the preceding five trading sessions to settle at Rs 2,973.35 yesterday, 5 September 2017, from its close of Rs 2,548.05 on 29 August 2017. The stock had settled 2.95% higher yesterday, 5 September 2017, after the company reported strong Q1 financials during market hours on that day.
Sharda Motor Industries' net profit rose 47.28% to Rs 18.69 crore on 15.94% growth in total income to Rs 336.03 crore in Q1 June 2017 over Q1 June 2016.
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Sharda Motor Industries operates in the automotive industry. The company is one of the leading manufacturers of exhaust systems, suspension systems, seat trim and seat frames.
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