Igarashi Motors India spurted 16.01% to Rs 176.05 at 15:06 IST on BSE on bargain hunting after the stock slumped 17.41% in the preceding 11 trading sessions to Rs 151.75 on 23 June 2014, from a recent high of Rs 183.75 on 6 June 2014.
Meanwhile, the BSE Sensex was up 322.96 points, or 1.29%, to 25,354.28.
On BSE, so far 2.23 lakh shares were traded in the counter, compared with an average volume of 53,443 shares in the past one quarter.
The stock hit a high of Rs 182.10 and a low of Rs 153 so far during the day. The stock hit a 52-week high of Rs 205.40 on 22 May 2014. The stock hit a 52-week low of Rs 57.40 on 25 June 2013.
The stock had underperformed the market over the past one month till 23 June 2014, sliding 19.60% compared with 1.37% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.89% as against Sensex's 15.06% rise.
The small-cap company has an equity capital of Rs 30.61 crore. Face value per share is Rs 10.
Net profit of Igarashi Motors India rose 100% to Rs 9.94 crore on 20.57% rise in net sales to Rs 92.27 crore in Q4 March 2014 over Q4 March 2013.
Igarashi Motors India manufactures automobile parts. The company produces direct current electrical motors for power window and wiper.
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