Jay Bharat Maruti hits 10% upper circuit

It did not come as a surprise to see that Jay Bharat Maruti, the moment it opened for trading today morning, hit the 10% upper circuit at Rs.134.65. This is just a tad away from its 52-week high of Rs.136.50.

The company has posted an exuberant set of numbers for Q2FY15, with net profit coming in at Rs.12 crore, up 71% both YoY as well as sequentially. This was on the back of very good operational performance with net sales for the quarter coming in at Rs.323 crore, up 16% (YoY). What also helped was the 28% jump in other operating income at Rs.23 crore. Other income more than doubled, up 111%. NPM for the quarter came in at 3.7% v/s 2.7% in Q2FY14. Our Editor, Mr.SP Tulsian expects the stock price to touch around Rs.150 levels in a month. He recommends buying this stock as an investor.