NRB Bearings on a Roll After Solid Q2 Results

Resource from: CBCC Likes:2934

Oct 26,2009

NRB Bearings spurted 6% to Rs 61.45 at 15:12 IST after net profit surged 325.8% to Rs 3.79 crore on a 4.5% decline in sales to Rs 78.93 crore in Q2 September 2009 over Q2 September 2008. The results were announced during trading hours today, 23 October 2009. Meanwhile, the BSE Sensex was up 42.18 points, or 0.25%, to 16,831.92. On BSE, 2.99 lakh shares were traded in the counter as against an average daily volume of 18,315 shares in the past one quarter. The stock had outperformed the market over the past one month till 22 October 2009, rising 0.52% as compared to the Sensex 0.57% rise. It outperformed the market in past one quarter, gaining 22.11% as against 13.11% rise in the Sensex. The small-cap ball bearing maker has an equity capital of Rs 9.69 crore. Face value per share is Rs 2. The current price of Rs 61.45 discounts the company's Q1 June 2009 annualised EPS of Rs 3.89, by a PE multiple of 15.79. NRB Bearings manufactures a wide range of needle rollers, needle bushes, needle cages, needle bearings and tapered roller bearings.

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