Prakash Industries gains after strong Q1 results

Prakash Industries rose 2.01% to Rs 162.10 at 14:24 IST on BSE after net profit rose 183.9% to Rs 168.68 crore on 51.5% increase in net sales to Rs 985.42 crore in Q1 June 2018 over Q1 June 2017.

The result was announced during trading hours today, 10 July 2018.

Meanwhile, the S&P BSE Sensex was up 240.03 points, or 0.67% to 36,174.75.

On the BSE, 6.60 lakh shares were traded in the counter so far compared with average daily volumes of 1.58 lakh shares in the past two weeks. The stock had hit a high of Rs 166.80 and a low of Rs 155 so far during the day. The stock hit a 52-week high of Rs 276 on 16 January 2018. The stock hit a 52-week low of Rs 90.80 on 14 August 2017.

Prakash Industries was founded in the year 1980 with a focused vision in the core competence areas of mining, steel and power, PVC pipes & fitting and flexible packaging. The company is rapidly carving its niche in the Indian steel industry, and has emerged as one of the key producers of value added steel products in the country.

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