Finolex Inds jumps after robust Q1 numbers

Finolex Industries jumped 4.41% to Rs 297 at 14:49 IST on BSE after net profit rose 39.94% to Rs 70.25 crore on 4.76% decline in total income to Rs 636.12 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced during market hours today, 7 August 2015.

Meanwhile, the S&P BSE Sensex was down 60.28 points or 0.21% at 28,237.85.

The stock surged on heavy volumes. On BSE, so far 2.35 lakh shares were traded in the counter as against average daily volume of 15,348 shares in the past one quarter.

The stock hit a high of Rs 309.40 and a low of Rs 285.70 so far during the day. The stock had hit a record high of Rs 348 on 7 November 2014. The stock had hit a 52-week low of Rs 247.70 on 8 May 2015.

The stock had outperformed the market over the past one month till 6 August 2015, gaining 0.74% compared with Sensex's 0.32% rise. The scrip had also outperformed the market in past one quarter, surging 7.02% as against Sensex's 5.92% rise.

The mid-cap company has equity capital of Rs 124.10 crore. Face value per share is Rs 10.

Finolex Industries is the largest PVC-U pipe manufacturer in India.

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