Finolex Inds sizzles on bargain hunting

Finolex Industries gained 2.38% to Rs 629.20 at 15:08 IST on BSE on bargain hunting after declining 13.63% in the preceding five trading sessions to settle at Rs 614.60 on 17 November 2017, from its close of Rs 711.60 on 10 November 2017.

Meanwhile, the S&P BSE Sensex was up 39.99 points, or 0.12%, to 33,382.79. The S&P BSE Mid-Cap index was up 108.36 points, or 0.65%, to 16,781.69

On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 13,531 shares in the past one quarter. The stock hit a high of Rs 632 and a low of Rs 609 so far during the day. The stock hit a record high of Rs 752.80 on 23 October 2017. The stock hit a 52-week low of Rs 385 on 21 November 2016.

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

Finolex Industries' net profit dropped 44.89% to Rs 28.28 crore on 4.39% rise in total income to Rs 486.21 crore in Q2 September 2017 over Q2 September 2016.

Finolex Industries is India's leading manufacturer of PVC-U pipes and fittings and the second largest manufacturer of PVC Resin.

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