Elgi Equipments will hold a meeting of the Board of Directors of the Company on 28 May 2018.

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Lakshmi Vilas Bank Ltd, Sanofi India Ltd, Laurus Labs Ltd, Symphony Ltd are among the other stocks to see a surge in volumes on BSE today, 28 February 2018.

Elgi Equipments Ltd clocked volume of 1.25 lakh shares by 10:52 IST on BSE, a 46.06 times surge over two-week average daily volume of 2717 shares. The stock gained 0.06% to Rs.310.00. Volumes stood at 3133 shares in the last session.

Lakshmi Vilas Bank Ltd saw volume of 10.86 lakh shares by 10:53 IST on BSE, a 34.04 fold spurt over two-week average daily volume of 31917 shares. The stock dropped 4.08% to Rs.106.95. Volumes stood at 24474 shares in the last session.

Sanofi India Ltd saw volume of 21833 shares by 10:53 IST on BSE, a 17.4 fold spurt over two-week average daily volume of 1255 shares. The stock increased 0.37% to Rs.4,970.00. Volumes stood at 136 shares in the last session.

Laurus Labs Ltd saw volume of 2.31 lakh shares by 10:53 IST on BSE, a 7.28 fold spurt over two-week average daily volume of 31791 shares. The stock increased 1.10% to Rs.538.30. Volumes stood at 1.23 lakh shares in the last session.

Symphony Ltd witnessed volume of 5977 shares by 10:53 IST on BSE, a 3.85 times surge over two-week average daily volume of 1552 shares. The stock increased 4.00% to Rs.1,858.60. Volumes stood at 6519 shares in the last session.

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Net profit of Elgi Equipments rose 122.95% to Rs 28.07 crore in the quarter ended December 2017 as against Rs 12.59 crore during the previous quarter ended December 2016. Sales rose 24.92% to Rs 415.42 crore in the quarter ended December 2017 as against Rs 332.55 crore during the previous quarter ended December 2016.

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The result was announced after market hours yesterday, 29 January 2018.

Meanwhile, the S&P BSE Sensex was down 216.57 points, or 0.6% at 36,066.68. The S&P BSE Mid-Cap index was down 124.11 points, or 0.7% at 17,586.19, underperforming the Sensex.

On the BSE, 49,000 shares were traded on the counter so far as against the average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 330.90 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 274.55 so far during the day. The stock had hit a 52-week low of Rs 188.10 on 31 January 2017.

Elgi Equipments' sales in India grew 21% in Q3 December 2017 over Q3 December 2016 on the back of increased demand and improved market penetration. Overall, the company's business grew across all markets barring few Asian countries.

The automative division of the company has continued to maintain the growth momentum and registered a 24% growth in Q3 December 2017 over Q3 December 2016.

The outlook for Q4 March 2018 looks good and the company looks forward to continuing its growth and its improved performance, it added.

Elgi Equipments manufactures air compressors and automobile service station equipment.

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