Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Total income was Rs 1,427.84 crore during the three-month period as against Rs 1,284.98 crore in the same period of previous fiscal
The British-era company, which started as textiles business, has diversified significantly into other businesses to become the conglomerate it is today
The expansions and pick-up in demand, besides the anticipated better pricing situation in the northern markets, would improve the company's performance, analysts say.
Amid the gloomy GDP print; however, what is noteworthy is that the government spending rose sharply to 15.6 per cent during the quarter, as against 8.8 per cent in 1QFY20.
The company had posted a net profit of Rs 96 crore in the same quarter previous fiscal
Total expenses stood at Rs 10.3 billion
The total expenses dropped to Rs 10.67 billion, from Rs 11.23 billion in the year-ago period
The board of directors has recommended a dividend of Rs 10 per equity share for the financial year ended on March 31, 2018
It has rolled out a plan to better understand segments and applications for more innovative products
Total standalone revenue of the company rose to Rs 1,142.05 crore
The stock surged 11% to Rs 1,194, also its record high on BSE in early morning trade
Demand is helped by the government's push in the infrastructure sector
The company's net sales increased to Rs 886.70 crore