Lumax Industries surged 14.32% to Rs 1,551.40 at 12:50 IST on BSE after the company said it has received a new customer order.
The announcement was made after market hours on Friday, 21 April 2017.Meanwhile, the S&P BSE Sensex was up 231.29 points or 0.79% at 29,596.59. The S&P BSE Small-Cap index was up 132.55 points or 0.87% at 15,298.86.
On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 3,942 shares in the past one quarter. The stock had hit a high of Rs 1,561.55 so far during the day, which is a record high. The stock hit a low of Rs 1,357.05 so far during the day.
The stock had hit a 52-week low of Rs 430.50 on 4 May 2016. It had underperformed the market over the past one month till 21 April 2017, sliding 0.44% compared with the Sensex's 0.41% fall. The scrip had, however, outperformed the market over the past one quarter, gaining 32.98% as against the Sensex's 8.62% rise.
The small-cap company has equity capital of Rs 9.35 crore. Face value per share is Rs 10.
Lumax Industries said it has received order to supply new age headlamps and rear lamps for the new generation Maruti Suzuki Swift, that commences production later this year at carmakers Gujarat facility in Mehsana district. The order will be fulfilled from the Sanand plant.
Lumax has done a capex of about Rs 120 crore, at Sanand, which is expected to commence operations from November 2017. The capex has been funded through internal accruals.
Going forward, the plant is expected to cater to the needs of TATA Tigor at Sanand as well as HMSI's existing models at Gujarat. The facility will have a capacity of about 3 lakh car-sets annually. The plant is expected to be operational at its full capacity by FY19-20.
On consolidated basis, Lumax Industries' net profit rose 67.7% to Rs 17.04 crore on 3.4% decline in net sales to Rs 297.15 crore in Q3 December 2016 over Q3 December 2015.
Lumax Industries is one the leading players in the automotive lighting industry in India.
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