Zee News soars to upper circuit on Q2 net jump

The stock ended at its 20% upper circuit. The counter witnessed trades of 3.76 million shares as compared to the two-week daily average traded volumes of 437,744 shares. Buy orders of 309,527 shares were pending at the counter on the BSE.
___________________________________________

(Updated at 1008hrs)

Zee News has soared on a strong Q2 performance.

The stock opened at Rs 46 and soared 20% to its 52-week high of Rs 53.15. The stock is now locked at this upper circuit level. The stock has zoomed 113% from its 52-week low of Rs 25.

The counter has witnessed comparatively hefty volumes of 1.55 million shares as against the two week daily average trade of 437,744 shares on the BSE.

According to a release issued by the company to the BSE, the consolidated net profit increased 14% to Rs 13.14 crore in the quarter ended September 2009 from Rs 11.46 crore in the corresponding quarter a year ago. Total income was up 26% at Rs 161.23 crore in Q2FY10 from Rs 127.68 crore in Q2FY09.