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Block deal lifts Sundram Fasteners

Wednesday, May 30, 2007

Sundram Fasteners rose 1.65% to Rs 67.70 after a single block deal of 6.96 lakh shares took place in the stock on NSE at Rs 67.

On BSE, 49,168 shares were traded in the scrip.

The Sundram Fasteners scrip dropped from a recent high of Rs 89.70 on 2 January 2007 to a low of Rs 60.70 on 19 March 2007. Thereafter, the scrip traded between Rs 60–Rs 66 range.

On 22 March 2007, Sundram Fasteners announced that TVS International Inc. USA, had ceased to be a subsidiary of the company.

Sundaram Fastners' net profit soared 74.2% to Rs 20.94 crore in Q3 December 2006 quarter (Rs 12.02 crore). Sales rose 14.9% to Rs 304.49 crore in Q3 December 2006 (Rs 265.09 crore).

Sundram Fasteners is engaged in the business of manufacture and sale of high tensile fasteners, cold forgings/extrusions including precision formed gears, powder metal parts, oil pumps/water pumps and engine parts, radiator caps, hot and warm forgings, auto components and iron powder.

Posted by FR at 10:16 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.