NRB Bearings enjoy healthy ride on bourses

NRB Bearings enjoy healthy ride on bourses

NRB Bearings Limited is having a jolly ride on the bourses extending the gains of the past few trading sessions. The stock is hovering around Rs 139 per share, higher by 3.77%.

The stock has started its upward rally after reporting healthy Q4 results. The company’s standalone revenue for the quarter stood at Rs 189 crore , registering a 10% Y-o-Y increase.

EBITDA for the quarter fell by 11.6% Y-o-Y to Rs 27 crore, with a corresponding margin contraction of 315 bps. EBITDA margin for the quarter stood at 14.3%. The PAT for the quarter stood at Rs 13 crore, an Y-o-Y increase of 8%.

The company holds nearly 70% market share in the bearings industry. It caters to all segments of the automobile industry and draws around 65% of its revenue from the domestic original equipment manufacturers. The company’s exports are exported to gain on the back of revival in US and European economies. After the rollout of the unified tax regime, Goods and Services Tax (GST) in the country, the company is likely to tap additional market share.

Stock View:

NRB Bearings Ltd is currently trading at Rs 140, up by Rs 6.05 or 4.52% from its previous closing of Rs 133.95 on the BSE.

The scrip opened at Rs 135.1 and has touched a high and low of Rs 140.5 and Rs 134 respectively. So far 234065(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1297.98 crore.

The BSE group ‘B’ stock of face value Rs 2 has touched a 52 week high of Rs 141 on 23-Sep-2016 and a 52 week low of Rs 103 on 15-Mar-2017. Last one week high and low of the scrip stood at Rs 134.8 and Rs 119 respectively.

The promoters holding in the company stood at 54.66 % while Institutions and Non-Institutions held 33.8 % and 11.54 % respectively.

The stock is currently trading above its 50 DMA.

Source: NRB Bearings | NRB Bearings enjoy healthy ride on bourses

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