Remarkable Stocks Performances - Highs and Lows

INDORE, India - July 12, 2016 - PRLog -- Rico Auto Shares hiked around 6 percent Today. The reason behind this huge amount of hike is the new foundation laid  for the new plant in Bhiwadi Rajasthan for the manufacturing of auto components. This factory premises is being built on a plot of 11.3 acres. Latest manufacturing technology would be implemented in the new facility, says Rico. Hopefully company will start the commercial production at the new plant by the next financial year. The announcement of new foundation was made after the market hours on 11 july 2016. The stock hit the highest of 44.80 intraday and low of 43 during the day. Rico Auto Industries reported net profit of Rs 6.98 crore in Q4 March 2016 compared with net loss of Rs 7.18 crore in Q4 March 2015. Net sales rose 9.1% to Rs 247.14 crore in Q4 March 2016 over Q4 March 2015. Rico Auto Industries supplies a wide range of high precision fully machined, aluminum and ferrous components and assemblies to automotive original equipment manufacturers (OEMs) across the globe.

The board of directors of Coal India at its meeting on Monday decided on buying back 1.72% percent of its shares at a total cost of Rs 3,650 crore. About 10.89 crore shares would be bought back at Rs 335 per share. Coal India closed at Rs 320.5 at BSE on Monday. It opened at 321.30 today and dropped to 314.80 within first ten minutes of the morning session. The coal company has eight wholly owned subsidiaries, although all are profit making. The buyback will result in a contraction of Coal India's paid up capital by 1.7%, but that might not have much impact on its free float or the shares available for trading. For Coal India, a buyback is a better way of rewarding its shareholders than paying a special dividend.

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