GNA Axles, which had closed yesterday at Rs.520.95, opened today morning at Rs.564 and went on to hit a new high at Rs.574.25. Its 20% UC for the day is at Rs.625.10.
The market is very happy with its performance for Q1FY22, with consolidated total sales rising 4-times to Rs.329 crore – clearly the lower base effect is at play because sequentially, the increase is 6%.
The company turned around with a net profit of Rs.29 crore v/s net loss of Rs.7 crore (YoY) while QoQ, it was up 7%.
The company is into manufacture of axles which is a key component of cars and other vehicles.