Timken India jumps after good Q2 results

Resource from: Business Standard Likes:245

Nov 30,2016

Timken India rose 4.07% to Rs 576 at 9:37 IST on BSE after net profit rose 41.11% to Rs 29.86 crore on 7.27% rise in net total income from operations to Rs 296.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016. Meanwhile, the BSE Sensex was up 132.30 points, or 0.50%, to 26,482.47. On BSE, so far 9,770 shares were traded in the counter, compared with average daily volume of 11,687 shares in the past one quarter. The stock hit a high of Rs 584.70 and a low of Rs 558.80 so far during the day. The stock hit a 52-week high of Rs 640.90 on 21 October 2016. The stock hit a 52-week low of Rs 400.50 on 18 March 2016. The stock had outperformed the market over the past 30 days till 28 November 2016, falling 5.43% compared with the 5.66% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.59% as against Sensex's 7.03% decline. The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10. Timken India engineers and manufactures bearings and mechanical power transmission components including gear drives, couplings, belts and chain.

(Business Standard)

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