Shares of Craftsman Automation were in focus today after private equity firm Marina III Singapore offloaded its entire 5.48 per cent stake or 11,56,808 shares at an average price of Rs 3,200 in the engineering company. The transaction size was worth Rs 370 crore. However, Craftsman Automation shares rose 3.48% to Rs 3388 against the previous close of Rs 3274 on BSE.
Currently, the stock is trading 2.87% away from 52-week high of Rs 3462.95 hit on November 11, 2022. It has risen 10.61% in the last 5 days.
Craftsman Auto stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The shares of Craftsman Automation have gained 50% in a year and risen 49% in 2022.
Total 2,649 shares of the firm changed hands amounting to a turnover of Rs 89.01 lakh in the afternoon session. Market cap of the firm rose to Rs 7,139 crore on BSE.
In the September quarter of the current fiscal, the auto ancillary company’s consolidated net profit rose 25.06% to Rs 62.48 crore on 35.94% surge in net sales to Rs 776.24 crore in Q2 FY23 over Q2 FY22.
Consolidated profit before tax stood at Rs 96.06 crore in the quarter ended September 30, 2022, clocking a growth of 25.5% from Rs 76.54 crore posted in the same period last year.
Revenue from Automotive-Powertrain & Others climbed 29.46% YoY to Rs 378.18 crore, revenue from Aluminium Products rose 39.53% YoY to Rs 196.34 crore and revenue from Industrial & Engineering stood at Rs 201.72 crore (up 46% YoY) in Q2 FY23.
Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive-aluminum products, and industrial and engineering.
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