Volume Shocker: AGC Networks

The stock of AGC Networks has rallied 41% in past one month on reporting a seven-fold jump in Q1 net profit

AGC Networks was locked in 20% upper circuit at Rs 365, also its four-year high on back of over ten-fold jump in trading volumes. A combined 162,627 shares have already changed hands on the counter till noon deals and there are pending buy orders for 107,966 shares on the NSE and BSE.

The stock of AGC Networks has rallied 41% in past one month after the company reported a seven-fold jump in net profit.

Essar Group's BPO arm has posted a net profit of Rs 18 crore for the first quarter ended June 30 against Rs 2.3 crore a year ago, on the back of a robust revenue flow from its overseas business.

Sales during the quarter grew by 25% at Rs 246 crore as against Rs 196 crore a year ago. Revenue from the overseas business grew significantly to 42% in the June quarter as against 16% a year ago period.