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Fag Bearings India hits lifetime high on good quarterly earnings - Miserji Research Team

Fag Bearings India jumped 6.45% to Rs 1,332 at 15:20 IST on BSE, after net profit surged 32.15% to Rs 44.72 crore on 16.45% rise in net sales to Rs 315.79 crore in Q2 June 2011 over Q2 June 2010.


The company declared its results during trading hours today, 22 July 2011.

Meanwhile, the BSE Sensex was up 296.46 points, or 1.61%, to 18,732.65.

On BSE, 42,844 shares were traded in the counter as against an average daily volume of 4,026 shares in the past one quarter.

The stock hit a high of Rs 1409.85 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1248.05 so far during the day. The stock had hit a 52-week low of Rs 628 on 21 July 2010.

The mid-cap stock had outperformed the market over the past one month till 21 July 2011, rising 9.37% compared with the Sensex's return of 4.99%. The scrip had also outperformed the market in past one quarter, gaining 24.47% as against 5.95% decline in the Sensex.

The company has an equity capital of Rs 16.62 crore. Face value per share is Rs 10.

The company manufactures a very wide range of bearings conforming to the stringent international quality standards.