Sanghi Industries spurts to 52-week high after turnaround in Q4

Sanghi Industries was locked at 5% upper circuit at Rs 33.95 at 15:12 IST on BSE after the company reported net profit of Rs 35.46 crore in Q4 June 2014 as against net loss of Rs 35.74 crore in Q4 June 2013.

The Q4 result was announced after market hours on Thursday, 21 August 2014.

Meanwhile, the S&P BSE Sensex was up 62.20 points or 0.24% at 26,422.31.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter.

The stock opened with an upward gap surging by the maximum permissible level of 5% and remained locked at 5% level at Rs 33.95 so far in the day, which is a 52-week high for the counter. The stock had hit a 52-week low of Rs 13.06 on 4 September 2013.

The stock had outperformed the market over the past one month till 21 August 2014, surging 11.55% compared with Sensex's 2.51% rise. The scrip had also outperformed the market in past one quarter, jumping 27.36% as against Sensex's 8.49% rise.

The small-cap company has equity capital of Rs 219.98 crore. Face value per share is Rs 10.

Sanghi Industries' total income from operations rose 30.54% to Rs 288.80 crore in Q4 June 2014 over Q4 June 2013.

Sanghi Industries' net profit rose 8.06% to Rs 49.58 crore on 5.87% growth in total income from operations to Rs 1048.26 crore in the year ended 30 June 2014 (FY 2014) over the year ended 30 June 2013 (FY 2013).

Sanghi Industries manufactures clinker and cement products.

Powered by Capital Market - Live News