Bengaluru, April 8 -- This small-cap Auto Ancillaries stock, engaged in the manufacturing of pistons, piston rings, engine valves, and related components for automotive and industrial applications, skyrocketed 17.14 percent after the company reported March quarterly results with a 30.12 percent QOQ increase in net profit and announced a dividend of Rs. 5 per equity share.
With a market capitalization of Rs. 11,546.99 crores, the share of Shriram Pistons and Rings Limited has reached an intraday high of Rs. 2,181.50 per equity share, rising nearly 17.14 percent from its previous day's close price of Rs. 1,862.25. Since then, the stock has retreated and is currently trading at Rs. 2,155 per equity share.
Coming into the quarterly results o...