 "Emami hits new high as FIIs hike stake to record high")
Shares of personal products maker Emami has surged 5% to Rs 730 after the foreign institutional investors (FIIs) stake in the company touches record high during September 2014 quarter.
FIIs have increased their stake in the company to 17.23% in September quarter against 16.77% at the end of June quarter, Emami said in a regulatory filing.
The stock is among major outperformer in past three months by gaining 42% compared to less than 4% rise in benchmark indices S&P BSE Sensed and CNX Nifty.
Meanwhile, analyst at Prabhudas Lilladher estimate 20% sales growth on a low base (12.8%) as favorable climate (delayed/weak monsoons) in several parts will boost demand for Navratna oil, Talc and Zandu Balm.
Analyst estimate 17.4% growth in EBITDA and 15.3% growth in net profit for the quarter ended September 2014.
The stock opened at Rs 699 and touched high of Rs 735, also its record high on BSE. The trading volumes on the counter more than doubled with a combined 245,000 shares changed hands till early noon deals on NSE and BSE.
FIIs have increased their stake in the company to 17.23% in September quarter against 16.77% at the end of June quarter, Emami said in a regulatory filing.
The stock is among major outperformer in past three months by gaining 42% compared to less than 4% rise in benchmark indices S&P BSE Sensed and CNX Nifty.
Meanwhile, analyst at Prabhudas Lilladher estimate 20% sales growth on a low base (12.8%) as favorable climate (delayed/weak monsoons) in several parts will boost demand for Navratna oil, Talc and Zandu Balm.
Analyst estimate 17.4% growth in EBITDA and 15.3% growth in net profit for the quarter ended September 2014.
The stock opened at Rs 699 and touched high of Rs 735, also its record high on BSE. The trading volumes on the counter more than doubled with a combined 245,000 shares changed hands till early noon deals on NSE and BSE.
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