Finolex Industries gains after posting good Q1 results

Finolex Industries gained 1.19% to Rs 480.05 at 14:35 IST on BSE after net profit rose 36.05% to Rs 98.04 crore on 5.83% rise in total income to Rs 676.03 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during market hours today, 26 August 2016.

Meanwhile, the S&P BSE Sensex was down 82.38 points or 0.33% at 25,219.52.

High volumes were witnessed on the counter. On BSE, so far 72,497 shares were traded in the counter as against average daily volume of 14,554 shares in the past one quarter. The stock hit a high of Rs 497.50 so far during the day, which is a record high for the stock. The stock hit a low of Rs 471 so far during the day. The stock hit a 52-week low of Rs 247.95 on 23 September 2015. The stock had outperformed the market over the past one month till 25 August 2016, gaining 3.82% compared with 0.92% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.16% as against Sensex's 7.55% 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.

Powered by Capital Market - Live News