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CMC vaults after strong Q1 earnings

Capital Market/ 13:57 , Jul 12, 2012

CMC surged 15.54% to Rs 998.05 at 13:56 IST on BSE after consolidated net profit jumped 68% to Rs 58.43 crore on 48% growth in sales to Rs 452.28 crore in Q1 June 2012 over Q1 June 2011.

The company announced the results after market hours on Wednesday, 11 July 2012.

Meanwhile, the BSE Sensex was down 217.34 points or 1.24% to 17,271.80.

On BSE, 2.60 lakh shares were traded in the counter as against average daily volume of 2,198 shares in the past one quarter.

The stock hit a high of Rs 1,003.50 and a low of Rs 888 so far during the day. The stock had hit a 52-week high of Rs 1,200 on 15 July 2011. The stock had hit a 52-week low of Rs 685 on 18 May 2012.

The stock had underperformed the market over the past one month till 11 July 2012, rising 0.6% compared with the Sensex's 4.93% rise. The scrip had also underperformed the market in past one quarter, tumbling 11.41% as against Sensex's 1.68% rise.

The company has an equity capital of Rs 30.30 crore. Face value per share is Rs 10.

CMC is a subsidiary of IT giant Tata Consultancy Services (TCS). CMC offers IT solutions in India. The company operates out of 18 offices and 180 service location in India. It has a wholly-owned subsidiary in US, CMC Americas Inc.

 



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