Finolex Industries hits 52-week high on robust Q4

Posted By: Religare
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Shares of electrical wires and cable manufacturer Finolex Industries surged over 9 per cent, hitting 52-week high, in early trade on Bombay Stock Exchange (BSE) on reporting a strong set fourth quarter earnings.

The profits of PVC-U pipe manufacturer surged 41 percent year-on-year to Rs 79.3 crore during the quarter due to drop in finance cost.

Riding high on robust results, shares of company gained as much as 9.69 per cent and surged to 52-week high to trade at Rs 130.80 a piece on the BSE.

In a similar fashion, shares of the company were quoting at Rs 123.30 a piece, up 3.48 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 19,802.99, up 129.35 points or 0.66 per cent at 9:50 hours.

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