Finolex Industries edges higher after reporting decent Q2 results

Finolex Industries rose 1.02% to Rs 426.05 at 12:00 IST on BSE after net profit rose 27.61% to Rs 51.31 crore o 2.41% decline in total income to Rs 532.33 crore in Q2 September 2016 over Q2 September 2015.

The announcement was made after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 86.15 points, or 0.32%, to 26,780.43.

More than usual volumes were witnessed on the counter. On BSE, so far 11,081 shares were traded in the counter, compared with average daily volume of 6,186 shares in the past one quarter. The stock had hit a high of Rs 435 and a low of Rs 425 so far during the day. The stock had hit a record high of Rs 497.50 on 26 August 2016. The stock had hit a 52-week low of Rs 259.50 on 20 January 2016.

The stock had underperformed the market over the past 30 days till 8 December 2016, falling 5.19% compared with 3.25% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.6% as against Sensex's 8.09% decline.

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 pipe manufacturer in India.

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