Pricol surged 9.02% to Rs 116.05 at 11:33 IST on BSE after net profit jumped 1252.4% to Rs 22.18 crore on 38.7% increase in total income to Rs 319.88 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours yesterday, 3 August 2016.Meanwhile, the BSE Sensex was up 75.26 points, or 0.27%, to 27,772.77
On BSE, so far 7.48 lakh shares were traded in the counter, compared with average daily volume of 4.33 lakh shares in the past one quarter. The stock hit a high of Rs 118.85 and a low of Rs 113.95 so far during the day. The stock hit a record high of Rs 122.65 on 26 July 2016. The stock hit a 52-week low of Rs 28.55 on 8 September 2015. The stock had outperformed the market over the past one month till 3 August 2016, gaining 30.93% compared with 2.04% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 105.3% as against Sensex's 9.78% rise.
The small-cap company has an equity capital of Rs 9.48 crore. Face value per share is Re 1.
Vikram Mohan, Managing Director, Pricol said that the Q1 June 2016 results were better than expected, primarily due to sustained efforts to reduce costs, gain in market share and increased productivity.
Pricol manufactures automotive components for the global automotive market. It caters to two, three, four wheelers, commercial vehicles, tractors and construction and industrial tooling segments across the global market.
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