Strong Q1 earnings boost OCL India

OCL India surged 3.57% to Rs 778 at 14:36 IST on BSE after net profit jumped 95.7% to Rs 105.84 crore on 4.2% growth in net sales to Rs 704.32 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 16 August 2016.

Meanwhile, the S&P BSE Sensex was down 99.44 points or 0.35% at 27,965.17.

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 4,959 shares in the past one quarter. The stock hit a high of Rs 795.05 and a low of Rs 775 so far during the day. The stock had hit a record high of Rs 800.75 on 26 July 2016. The stock had hit a 52-week low of Rs 390 on 25 February 2016. The stock had outperformed the market over the past one month till 16 August 2016, surging 17.99% compared with 0.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 40.72% as against Sensex's 9.4% rise.

 

The mid-cap company has equity capital of Rs 11.38 crore. Face value per share is Rs 2.

OCL India is in the business of cement and refractories.

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