Shivam Auto hits new high

By Research Desk
about 10 years ago

Shivam Auto has been hitting consistent new highs for the past couple of days. And today too, in the morning trades, the stock opened at a new high of Rs.134.95 but at this level, profit taking seems to have set in and the stock is in the red, down over 1% at Rs.126.80.

The company yesterday announced its Q4 and FY15 numbers, which were stable, not exactly trailblazing but the sweetener was a liberal 1:1 bonus. For Q4FY15, net profit came in 9% (YoY) higher at Rs.6 crore on a 11% rise in net sales at Rs.111 crore. It ended FY15 with a flat net profit of Rs.28 crore.

Post this bonus, the company’s equity will double up to Rs.20 crore from the current Rs.10 crore. This company, formerly Munjal Auto Components, is part of the Hero Group manufacturing near-net-shaped auto transmission components for original equipments manufacturers (OEMs). Its product portfolio comprises of transmission gears, transmission shafts, spline shafts, plunger, power train and engine transmission components employing cold/warm/hot forging techniques.

We had recommended this stock on 14th Nov’14 at Rs.67 in our Stock Recommendation section; clearly those who invested must be a happy and richer lot today!