Shares of Finolex Group companies such as Finolex Industries and Finolex Cables are in demand, trading at their 52-week highs, in otherwise subdued market.
Finolex Industries has rallied 5% to Rs 171, also its record high, on the Bombay Stock Exchange (BSE). While, Finolex Cables trading at its 52-week high, was up 3.5% at Rs 82.40.
Shares of Finolex Industries, the company engaged in plastic products business, almost surged three-fold so far in the current calendar year 2013 from Rs 61.50 on December 31, 2012.
The company has posted robust 92% year-on-year (yoy) growth in net profit at Rs 50 crore for the first half ended September 2013 against Rs 26 crore in the same period previous fiscal.
Finolex Cables, on the other hands, rallied 42% so far in 2013 compared to 8.3% rise in benchmark S&P BSE Sensex.
The company had reported 38% yoy jumped in net profit at Rs 114 crore mainly due to higher dividend income coupled with reversal in excess provision for derivative contracts.
According to analyst, strong operating cash-flows, net-debt free status, healthy return ratios coupled with likely higher dividend payout reflects the strong fundamentals of the company.
Finolex Industries has rallied 5% to Rs 171, also its record high, on the Bombay Stock Exchange (BSE). While, Finolex Cables trading at its 52-week high, was up 3.5% at Rs 82.40.
Shares of Finolex Industries, the company engaged in plastic products business, almost surged three-fold so far in the current calendar year 2013 from Rs 61.50 on December 31, 2012.
The company has posted robust 92% year-on-year (yoy) growth in net profit at Rs 50 crore for the first half ended September 2013 against Rs 26 crore in the same period previous fiscal.
Finolex Cables, on the other hands, rallied 42% so far in 2013 compared to 8.3% rise in benchmark S&P BSE Sensex.
The company had reported 38% yoy jumped in net profit at Rs 114 crore mainly due to higher dividend income coupled with reversal in excess provision for derivative contracts.
According to analyst, strong operating cash-flows, net-debt free status, healthy return ratios coupled with likely higher dividend payout reflects the strong fundamentals of the company.
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