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Fiem Industries extends rally on strong Q2 earnings

The stock has rallied over 30% in past six trading sessions on the National Stock Exchange.

SI Reporter  |  Mumbai 

Fiem Industries has rallied 14% to Rs 257, extending its past one week 17% rally, after reporting a strong 45% year on year (yoy) jump in net profit at Rs 9.08 for the quarter ended September 30, 2013 (Q2). The auto parts and equipment makers had profit of Rs 6.26 crore in year ago quarter.

The company’s total income from operations grew 24% at Rs 178 crore on yoy basis, FIEM Industries said in a statement.

The stock opened at Rs 227 and hit a high of Rs 260, also its 52-week high on NSE. A combined 136,399 shares have already changed hands on the counter so far against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.

First Published: Fri, November 22 2013. 11:35 IST