Indo Tech Transformers shoots up on Q2 numbers

DALAL STREET SPIKES

Indo Tech Transformers surged 10.63 per cent to close at Rs 220.55 on Tuesday after the company reported 38.77 per cent year-on-year growth in net profit to Rs 14.21 crore in the second quarter of FY09. The company’s net sales grew by 27.31 per cent to Rs 65.40 crore during the same period.

The stock hit an intraday high of Rs 239.2 (20 per cent upper circuit) and a low of Rs 218. The counter witnessed trading volumes of 32,131 shares (close to four times its two-week average) changing hands. Despite the gain, the scrip is down by 39 per cent in the last one month.