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Bharat Gears in top gear after bumper Q3 earnings

Capital Market/ 11:56 , Feb 08, 2012

Bharat Gears galloped 16.37% to Rs 68.60 at 11:55 IST on BSE after net profit jumped 124.7% to Rs 8.20 crore on 32.6% growth in net sales to Rs 111.93 crore in Q3 December 2011 over Q3 December 2010.

The company announced the results after market hours on Tuesday, 7 February 2012.

Meanwhile, the BSE Sensex was up 106.86 points, or 0.61% to 17,729.31.

On BSE, 1.30 lakh shares were traded in the counter as against average daily volume of 3,037 shares in the past one quarter.

The stock hit a high of Rs 70.70 and a low of Rs 65.05 so far during the day. The stock had hit a 52-week low of Rs 39.10 on 22 December 2011. The stock had hit a 52-week high of Rs 81.60 on 20 April 2011.

The small-cap stock had outperformed the market over the past one month till 7 February 2012, surging 35.05% compared with the Sensex's 11.19% return. The scrip had also outperformed the market in past one quarter, rising 5.08% as against 0.34% gain in the Sensex.

The company has an equity capital of Rs 7.82 crore. Face value per share is Rs 10.

Bharat Gears is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of Ring Gears and Pinions, Transmission Gears and Shafts, Differential Gears, Gear Boxes for the automotive industry.

 



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