V-Guard Industries rallies as net turnover surges 40% in FY13

V-Guard Industries has rallied over 10% to Rs 502, extending its previous day’s around 4% gain, after the company said its net turnover surged more than 40% to Rs 1,350 crore in the year ended March 31, 2013 (FY13) over the previous fiscal.

 

“The company has achieved net turnover of over Rs 1,350 crore for the financial year ended March 31, 2013, thereby registering growth of more than 40% over the previous financial year,” V-Guard Industries said in a BSE filing.

 

The sales from new markets outside south India also showed tremendous increase during the period. The upward trend in sales of all products contributed to the increased turn over registered, it added.

 

The stock opened at Rs 457 and hit a high of Rs 512 on NSE. As many as a combined 301,755 shares have changed hands on the counter till 1520 hours against an average sub 50,000 shares that were traded daily in past two weeks.