Stock of this company hits over 3-decade high; zooms 55% in one month

Finolex Cables has rallied 10 per cent to Rs 847.60, and trades at its highest level since March 1992.

Shares of Finolex Cables (FCL) hit an over three-decade high of Rs 847.60, as they surged 10 per cent on the BSE in Monday’s intra-day trade amid heavy volumes on expectations of strong business outlook. The stock of electrical cables company traded at its highest level since March 1992. It had hit a record high of Rs 875 on March 24, 1992, the BSE data shows.

FCL is India's largest manufacturer of electrical (80 per cent of revenue) and telecommunication cables (16 per cent). FCL has a wide distribution network with a high brand recall.

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