Dalmia Bharat, Navin Fluorine, Tasty Bite Eatables hit 52-week highs

Andhra Sugars, Mawana Sugars, Oudh Sugar, Upper Ganges Sugar and Parry Sugar hit fresh 52-week highs on the BSE.

Dalmia Bharat, Tasty Bite Eatables, Navin Fluorine International, Piramal Enterprises, Supreme Industries and Indiabulls Real Estate are among 66 companies that have hit their respective 52-week highs on the BSE in intra-day today.

Tasty Bite Eatables has rallied 18% to Rs 2,387, extending its previous day’s 20% surge on the BSE  after the company reported a strong 85% year on year (YoY) jump in net profit at Rs 5.88 crore for the fourth quarter ended March 2016 (Q4FY16). The company engaged in packaged foods business posted  a profit of Rs 3.18 crore in the year ago quarter.

Diamond Power Infrastructure has locked in upper circuit of circuit filter for the third straight trading sessions, up 10% at Rs 54 after the company announced that its board will meet to evaluate various debt re-alignment options.  The board will on May 16, also consider to evaluate an investment & approve proposal from a strategic investor to infuse US $ 125 million i.e. Rs 825 crore in the Company for a major corrections its capital structure and improving its debt/equity gearing & or its subsidiaries.

Indiabulls Wholesale Services surged 18% to Rs 23.43, extending its previous day’s 20% rally on the BSE, on back of an over five-fold jump in trading volumes. The company posted 12-fold jump in its consolidated net profit at Rs 29 crore for the quarter ended March 31, 2016 (Q4FY16). It had profit of Rs 2.37 crore in the same quarter last fiscal.

Store One Retail India has locked in upper circuit of second straight day, up 20% at Rs 88.35 on the BSE after the company reported a standalone net profit of Rs 39 crore in Q4FY16 against Rs 5 crore in Q4FY15. Net sales more than doubled to Rs 108 crore from Rs 35 crore in previous year quarter. Indiabulls Wholesale Services held 74% stake in Store One Retail.

Xchanging Solutions has soared 15% to Rs 83 on the BSE in intra-day trade ahead of board meeting tomorrow, May 11, 2016 to consider the proposed delisting offer and any other matters incidental thereto. In past three trading sessions, the stock zoomed 66% from Rs 50 on May 5, after the company engaged in information technology (IT) services business announced voluntary delisting plan.

Most of the sugar stocks such as Andhra Sugars, Dhampure Specialty Sugars, Mawana Sugars, Oudh Sugar Mills, Parry Sugar Industries, Ugar Sugar Works, Upper Ganges Sugar Industries and Uttam Sugar Mills have hit their fresh 52-week highs on expectation of strong earnings growth in Q4FY16.