Finolex Industries hits two-year high on heavy volumes
The stock has outperformed the market by gaining 68% in past one-and-half month after reported a turnaround results in Q3.
Finolex Industries has rallied 5.5% to Rs 102, its highest level since December 2010, in early morning deals on back of heavy volumes on both the stock exchanges.
As many as a combined 286,154 shares have already changed hands till 0953 hours against an average sub 275,000 shares that were traded daily in past two weeks on BSE and NSE.
The stock has outperformed the market by gaining 68% in past one-and-half month after reported a turnaround results for the third quarter ended December 31, 2012 (Q3). The BSE benchmark Sensex has declined 1.9% during the same period.
The company engaged in plastic products has reported a net profit of Rs 30.61 crore in Q3 against loss of Rs 1.76 crore in year a ago quarter, due to higher other income and lower interest cost.
As many as a combined 286,154 shares have already changed hands till 0953 hours against an average sub 275,000 shares that were traded daily in past two weeks on BSE and NSE.
The stock has outperformed the market by gaining 68% in past one-and-half month after reported a turnaround results for the third quarter ended December 31, 2012 (Q3). The BSE benchmark Sensex has declined 1.9% during the same period.
The company engaged in plastic products has reported a net profit of Rs 30.61 crore in Q3 against loss of Rs 1.76 crore in year a ago quarter, due to higher other income and lower interest cost.