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Lux Industries gains after rating agency revises upward rating for bank facilities

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Lux Industries jumped 5.94% to Rs 720 at 12:15 on after the company announced that the company's rating for long term and short term bank facilities have been revised upwards by the rating agency, CARE.

The announcement was made after market yesterday, 13 October 2016.

Meanwhile, the S&P Sensex was up 30.83 points or 0.11% at 27,673.94.

High volumes were witnessed on the counter. On BSE, so far 8,264 shares were traded in the counter as against average daily volume of 3,488 shares in the past one quarter. The stock hit a high of Rs 730 and a low of Rs 677 so far during the day. The stock had hit a record high of Rs 781 on 5 January 2016. The stock had hit a record low of Rs 534 on 29 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, rising 14.8% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.98% as against Sensex's 0.62% drop.

The mid-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 2.

Lux Industries announced that the company's rating for long term bank facilities have been revised upwards by the rating agency, CARE from CARE A to CARE A+. The rating for short term bank facilities have been revised higher by CARE from CARE A1 to CARE A1 +.

Lux Industries' net profit rose 18% to Rs 10.17 crore on 9.7% rise in net sales to Rs 179.89 crore in Q1 June 2016 over Q1 June 2015.

Lux Industries makes underwear. Its offerings include various kinds of hosiery products for men, women and children.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 12:08 IST
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