Shanti Gears--Strong results

Shanthi Gears basks in glory of Q1 results : Shanthi Gears shot up 1.67%, to Rs 67 on strong Q1 June 2006 results. A total of 59,127 shares were traded on the BSE. The stock has remained range-bound since the last two weeks after making a smart recovery from the blues of a recent market meltdown. The stock rallied from the recent low of Rs 55.05 on 8 June to Rs 68.30 on 27 June as the market recovered. Here, the stock remained range bound, fluctuating between Rs 63 – 66, till it closed at Rs 65.90 on 13 July 2006. Shanthi Gears has registered a net profit rise of 35% to Rs 7.56 crore in Q1 June 2006 compared to Rs 5.59 crore in Q1 June 2005. Net sales during the period increased to Rs 40.44 crore from Rs 33.69 crore. Last year, the Coimbatore-based industrial gear manufacturer raised $15 million through a FCCB issue to fund its investment plans. It also entered into a memorandum of agreement with General Electric Company through its GE Transportation - Aircraft Engines Business Component (GET), a New York corporation, for the manufacture of speciality marine gear boxes for certain critical applications. Shanthi Gears manufactures a wide range of power-transmission products, including gears, gear boxes, geared motors and gear assemblies, both standard and custom-made. Nearly 50% of the company's business involves special orders. [With Inputs from Internet] Best wishes, Suman Mukherjee India.