Atlas Cycles (Haryana) will hold a meeting of the Board of Directors of the Company on 25 August 2017.

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Atlas Cycles (Haryana) announced that the Board of Directors of the Company at its meeting held on 04 August 2017, inter alia, has transacted the following businesses:

- Approved proposal of sub-division of the equity shares of the Company, subject to approval of the Shareholders in the 66th Annual General Meeting of the Company.

Split Ratio : 1:2 i.e.One Equity share of face value of Rs.10/- each will be split into two equity shares of face value of Rs. 5/- each.

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Atlas Cycles (Haryana) will hold a meeting of the Board of Directors of the Company on 4 August 2017.

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The announcement was made after market hours yesterday, 19 July 2017.

Meanwhile, the S&P BSE Sensex was down 25.47 points, or 0.08% at 31,929.88. The S&P BSE Small-Cap index was up 49.79 points, or 0.31% at 16,024.36.

On the BSE, 436 shares were traded on the counter so far as against the average daily volumes of 3,901 shares in the past one quarter. The stock opened with an upward gap of 5% at Rs 375.05 and remained stuck at that level so far. The stock had hit a record high of Rs 694 on 16 January 2017 and a 52-week low of Rs 195.20 on 12 August 2016.

The stock had underperformed the market over the past one month till 19 July 2017, declining 14.36% compared with the Sensex's 2.06% rise. The scrip had also underperformed the market over the past one quarter declining 16.68% as against the Sensex's 8.93% rise. The scrip had, however, outperformed the market over the past one year advancing 72.23% as against the Sensex's 15% rise.

The small-cap company has equity capital of Rs 3.25 crore. Face value per share is Rs 10.

Atlas Cycles (Haryana) said that a meeting of the board of directors of the company has been scheduled to be held on Friday, 4 August 2017, to consider the sub-division of equity shares of the company.

Atlas Cycles (Haryana) reported net loss of Rs 2.99 crore in Q3 December 2016, compared with net loss of Rs 2.05 crore in Q3 December 2015. Net sales rose 8.5% to Rs 146.75 crore in Q3 December 2016 over Q3 December 2015.

Atlas Cycles (Haryana) is a manufacturer of bicycles. The company manufactures components of bicycles and steel tubes.

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