Vardhman Textiles gains after strong Q3 outcome

Vardhman Textiles rose 12.78% to Rs 808.10 at 10:00 IST on BSE after consolidated net profit rose 73.22% to Rs 147.95 crore on 0.76% rise in net sales to Rs 1710.10 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours on Monday, 25 January 2016. The stock market was shut on Tuesday, 26 January 2016 for Republic Day Holiday.

Meanwhile, the BSE Sensex was up 3.90 points, or 0.02%, to 24,489.85.

On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 7,561 shares in the past one quarter. The stock hit a high of Rs 819.45 and a low of Rs 756.50 so far during the day. The stock hit a record high of Rs 990 on 21 August 2015. The stock hit a 52-week low of Rs 424.60 on 29 January 2015. The stock had underperformed the market over the past one month till 25 January 2016, sliding 11.54% compared with 5.24% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, sliding 5.04% as against Sensex's 10.87% fall.

The mid-cap company has an equity capital of Rs 63.65 crore. Face value per share is Rs 10.

Vardhman Group is a leading textile conglomerate in India. The group business portfolio includes yarn, greige and processed fabric, sewing thread, acrylic fibre and alloy steel.

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