Lanco Industries zooms on strong Q2 nos

The stock finally settled at Rs 44, up 10% from the previous close. The counter witnessed huge trades of 1.4 million shares as compared to the two-week daily average traded volumes of 66,261 shares on the BSE.
________________________________________________-

(Updated at 1051hrs)

Lanco Industries has soared today on the back of a spectacular performance in the second quarter of FY10.

The stock opened at Rs 43 and slipped to a low of Rs 42. Thereafter, the stock surged 16% to touch a high of Rs 46.40. The stock is now up 12% at Rs 44.95. The counter has witnessed hefty trades of 610,348 shares on the BSE as compared to its two-week daily average trade of 66,261 shares.

 

According to a release issued by the company to the BSE, net profit jumped 384% to Rs 15.28 crore in Q2FY10 from Rs 3.16 crore in Q2FY09. Total income increased 10% to Rs 175.90 crore from Rs 159.96 crore in the same period.