Shanthi Gears Q1 net profit up 17%; stock gains

MUMBAI: Shanthi Gears’ net profit rose 17.64 per cent at Rs 7 crore for quarter ended June 2011 as against Rs 5.95 crore in the same quarter a year ago. Net sales stood at Rs 40.22 crore as compared to Rs 32.54 crore in the same period a year ago.

The stock was at Rs 45.35, up 0.89 per cent on the NSE. It touched a high of Rs 46.60 and low of Rs 45.05 in trade so far.