Board to consider buyback; shares of this small cap company rally over 10 per cent and hit 52-week high today

Board to consider buyback; shares of this small cap company rally over 10 per cent and hit 52-week high today

Rakesh Deshmukh

The company’s shares hit a 52-week high today, with a spurt in volumes by over 5.55 times on the BSE.

Shares of Sharda Motors gained a significant traction on Tuesday, representing a gain of over 10 per cent. The stock has also witnessed heavy buying activity from investors in the today’s trading session and hits 52 Week high today.

Sharda Motor Industries Ltd is primarily engaged in the manufacturing and assembly of auto components and white goods components.

Latest Update

According to the details available in the company's press release, a meeting of the Board of Sharda Motor Industries Limited will be held on Thursday, April 18, 2024, to consider, inter alia, a proposal for the buyback of fully paid-up equity shares of the Company.

Share Performance

Today, the shares of this Small-Cap company opened the day at Rs 1526.45 per share on the BSE, hitting an intraday high and low of Rs 1600.15 and Rs 1504.35 respectively. Currently, they are trading at Rs 1517.90 per share on the BSE. Additionally, shares of the company have delivered multibagger returns of 2763 per cent to their shareholders in the last decade. The company’s shares are among the Top Gainers and among the highest volume stocks on the BSE today. Furthermore, the company’s stock hit a 52-Week High today.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Financial Performance

According to the Quarterly Results, Sharda Motor Industries Limited reported a revenue of Rs 689 crore, representing a year-on-year growth of 0.45 per cent from Rs 686 crore in the same quarter last year. The operating profit of the company stands at Rs 94 crore, with an operating profit margin of 14 per cent compared to Rs 64 crore in the same quarter last year. The net profit of the company stood at Rs 75 crore in the December quarter, a significant improvement compared to a net profit of Rs 46 crore same quarter last year.

Disclaimer: The article is for informational purposes only and not investment advice.

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