Finolex Industries reverses recent gains on profit booking

Finolex Industries fell 1.35% to Rs 583.85 at 09:34 IST on BSE, on profit booking after gaining 8.54% in the preceding six trading sessions to settle at Rs 591.85 yesterday, 5 April 2017, from its close of Rs 545.30 on 27 March 2017.

Meanwhile, the S&P BSE Sensex was down 43.31 points, or 0.14%, to 29,930.93

On BSE, so far 297 shares were traded in the counter, compared with average daily volume of 31,673 shares in the past one quarter. The stock hit a high of Rs 588 and a low of Rs 580.85 so far during the day. The stock hit a record high of Rs 600 on 5 April 2017. The stock hit a 52-week low of Rs 351 on 11 April 2016.

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

Finolex Industries' net profit rose 69.53% to Rs 71.95 crore on 5.68% rise in net sales to Rs 571.61 crore in Q3 December 2016 over Q3 December 2015.

Finolex Industries is the largest PVC pipe manufacturer in India.

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