Esab India up 6.85%, touches 52-week high on good buying

DALAL STREET SPIKES

Esab India, which manufactures welding equipments, moved up 6.85 per cent on Monday to end at Rs 497.5. Earlier, it touched a 52-week high of Rs 501.9. The stock saw volumes of over one lakh shares. The stock witnessed buying ahead of its results next week.

Last week, the company also announced that it would consider a dividend issue in the upcoming board meeting. The market expects good results from the company for December quarter, on the back of strong demand for products and enhanced profitability levels.

The company caters to engineering, construction and automotive sectors. They, in turn are expected to grow at a healthy pace. In the September quarter, the company's net profit increased by 83 per cent, while sales rose 31 per cent.