This Article is From Aug 07, 2014

MM Forging Hits Record High on Earnings

MM Forging Hits Record High on Earnings

MM Forgings jumped by its daily limit of 20 per cent to a record high of Rs 283.65 after the company posted highest ever quarterly revenue and profit in April-June.

Improvement in export volumes and currency depreciation are the main reasons for growth, analysts say.

MM Forging trades at 8.8 times 12-month forward earnings, vs rival Bharat Forge's 23.7 times.

Copyright : Thomson Reuters 2014