Indag Rubber rallies on strong Q4 results

The stock rallied 9% to Rs 964 after reported 50% yoy jump in standalone net profit at Rs 9.48 crore in March quarter.

Shares of Indag Rubber has rallied 9% to Rs 964 on the Bombay Stock Exchange (BSE) after the company reported a robust 50% year-on- year (yoy) jump in its standalone net profit at Rs 9.48 crore for the fourth quarter ended March 31, 2015 (Q4).

The small-sized auto tyres and rubber products maker had profit of Rs 6.34 crore in a year ago quarter.

Total operational income grew 18% at Rs 65.79 crore on yoy basis, Indag Rubber said in a statement.

The board has recommended a final dividend of Rs 7.50 per equity share of Rs 10 each (75%) for the financial year 2014-2015, it added.

Meanwhile, Indag Rubber has fixed a record date of April 24, 2015 for purpose of subdivision of equity shares of Rs 10 per share of the company into the equity shares of Rs 2 each (fully paid up).

Since March 27, the stock rallied 36% from Rs 704 against 15% rise in the S&P BSE Small-cap index and 5% gain in the S&P BSE Sensex.

Today, the stock opened at Rs 950 and hit a high of Rs 990 on the BSE. Till 1135 hours, around 14,000 shares changed hands against an average 10,000 shares that were traded daily in past two weeks on the BSE.