 "markets")
Shares of Adani Power, Jindal Stainless (JSL), Bombay Dyeing & Manufacturing Company, Vadilal Industries and Filatex India have hit their respective 52-week highs in an otherwise weak market on back of heavy volumes on Tuesday.
Filatex India zoomed 19% to Rs 96.50, extending its Monday’s 20% rally on BSE. The trading volumes on the counter surged multiple fold with a combined 3.76 million shares representing 8.6% of total equity of textiles company changed hands on BSE and NSE till 12:11 pm.
Vadilal Industries surged 13% to Rs 792 on back of 10-fold jump in trading volumes. A combined 701,018 shares changed hands on both the exchanges so far.
In past one month, the stock outperformed the market by gaining 35% after reported a 33.8% year on year growth in net profit for the first nine months (April-December) of current financial year 2017. On comparison, the S&P BSE Sensex was up 2.2% during the period.
The company said higher net profit growth was on account higher ice cream sales leading to better utilization levels, improved product mix and lower finance costs.
“The company is now reaping benefits of substantial investments in capacity, technology, brand and distribution. As volumes enhance, existing capacity gets utilized more efficiently and margins which were depressed in the past are improving,” Vadilal Industries said while announcing December quarter results.
Adani Power rallied 7% to Rs 41.30, extending its 5% gain in past three trading sessions, after the company allotted 40.99 million equity shares of Rs 10 each (with a premium of Rs 22.54 per equity share) upon partial conversion of the convertible warrants as earlier issued and allotted on preferential basis to promoter group entities.
Adani Group Company engaged in electric utilities business on March 1 claimed that its thermal unit at its 4,620 MW Mundra power plant had created a national record by running continuously for 600 days and generating 4,142.56 units of electricity.
Filatex India zoomed 19% to Rs 96.50, extending its Monday’s 20% rally on BSE. The trading volumes on the counter surged multiple fold with a combined 3.76 million shares representing 8.6% of total equity of textiles company changed hands on BSE and NSE till 12:11 pm.
Vadilal Industries surged 13% to Rs 792 on back of 10-fold jump in trading volumes. A combined 701,018 shares changed hands on both the exchanges so far.
In past one month, the stock outperformed the market by gaining 35% after reported a 33.8% year on year growth in net profit for the first nine months (April-December) of current financial year 2017. On comparison, the S&P BSE Sensex was up 2.2% during the period.
The company said higher net profit growth was on account higher ice cream sales leading to better utilization levels, improved product mix and lower finance costs.
“The company is now reaping benefits of substantial investments in capacity, technology, brand and distribution. As volumes enhance, existing capacity gets utilized more efficiently and margins which were depressed in the past are improving,” Vadilal Industries said while announcing December quarter results.
Adani Power rallied 7% to Rs 41.30, extending its 5% gain in past three trading sessions, after the company allotted 40.99 million equity shares of Rs 10 each (with a premium of Rs 22.54 per equity share) upon partial conversion of the convertible warrants as earlier issued and allotted on preferential basis to promoter group entities.
Adani Group Company engaged in electric utilities business on March 1 claimed that its thermal unit at its 4,620 MW Mundra power plant had created a national record by running continuously for 600 days and generating 4,142.56 units of electricity.
