Godfrey Phillips India hits new lifetime high; zooms over 40% in one-week

The stock zoomed 41% in past one-week from Rs 937 to Rs 1,320 as compared to less than 1% rise in Nifty.

Godfrey Phillips India has soared to its new lifetime high of Rs 1,320, up 16% on the National Stock Exchange (NSE) on back of heavy volumes.

Shares of cigarettes and tobacco products maker zoomed 41% in past one-week from Rs 937 as compared to less than 1% rise in Nifty.

Since September 10, 2015, the market price of the company more than doubled from Rs 558 after Good Investment (India), promoter of the company, purchased 127,000 equity shares of the company through market purchase.

Post acquisition, Indian promoters holding in the company increased to 46.96% against 46.72%, it added.

Meanwhile, Godfrey Phillips India reported a strong 53% year on year jump in its standalone net profit at Rs 49.72 crore for the quarter ended September 30, 2015 on back of strong operational performance.

The company’s profit from operations before other income, finance cost and tax expenses almost doubled from Rs 32.37 crore to Rs 62.39 crore during the quarter.

A combined 562,504 equity shares have already changed hands against an average sub 200,000 shares that were traded daily in past two weeks.

At 10:53 AM, the stock was up 13% at Rs 1,290 on the NSE.