Shalimar Paints has rallied nearly 15% at Rs 95 on back of heavy volumes on the bourses. The stock opened at Rs 82.70 on BSE and has seen over two-fold jump in trading volumes.
At 1110 hours, a combined 1.09 million shares have already changed hands as against an average 500,000 shares that were traded daily in past two weeks on BSE and NSE.
Shares of paint maker has outperformed the market by surging 36% since November 11, after reporting 48% year-on-year (yoy) growth in profit at Rs 4.13 crore for the quarter ended September 30, 2013 due to lower raw material cost. The benchmark S&P BSE Sensex has gained less than 2% during the period.
EBITDA or operating profit for the quarter improved by more than 130bps yoy at 8.47% driven by superior product mix.
At 1110 hours, a combined 1.09 million shares have already changed hands as against an average 500,000 shares that were traded daily in past two weeks on BSE and NSE.
Shares of paint maker has outperformed the market by surging 36% since November 11, after reporting 48% year-on-year (yoy) growth in profit at Rs 4.13 crore for the quarter ended September 30, 2013 due to lower raw material cost. The benchmark S&P BSE Sensex has gained less than 2% during the period.
EBITDA or operating profit for the quarter improved by more than 130bps yoy at 8.47% driven by superior product mix.
By going forward, the company is confident of sustaining the current margins and see continuous improvement in sales growth.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%