Greenply Industries stock zooms 10% on volume spike

In the past 12 months, Greenply Industries stock has zoomed 122 percent, more than doubling investors' capital. In comparison, Nifty rose 23 percent during this period.

Shares of Greenply Industries zoomed around 10 percent on November 5, the most in 8 months, amid a sharp surge in volumes.

So far in the day, a total of 14 lakh shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 3 lakh equity shares.

The stock is currently trading higher than its 5-day, 100-day, and 200-day moving averages, but lower than its 20-day and 50-day moving averages, indicating a mixed trend in the short term.

Recently, Greenply Industries announced its Q2FY25 results, revealing a robust performance with a 5.39 percent on-year increase in revenue and a notable 26.77 percent YoY surge in net profit.

Despite these positive YoY figures, the company faced some challenges sequentially. Revenue saw QoQ growth of 9.69 percent, but profit experienced a significant decline of 46.69 percent, highlighting the volatility in the industry and the impact of rising operational costs.

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Company's Selling, General, and Administrative (SG&A) expenses rose by 12.46 percent QoQ and 5.82 percent YoY, contributing to the profit decline in the quarter.

Greenply Industries' operational income saw a minor dip of nearly 1 percent compared to the previous quarter but recorded a solid 21.15% increase year-on-year, reflecting a positive long-term trend despite short-term challenges.

Earnings per share (EPS) reached Es 1.41 in Q2, up an impressive 25.9 percent YoY, offering promising growth indicators for investors.

At 1:58 pm, Greenply shares were trading 5 percent higher at Rs 352 on the National Stock Exchange (NSE). The stock has surged around 47 percent so far this year, outperforming Nifty's returns of 10 percent.

In the past 12 months, the counter has zoomed 122 percent, more than doubling investors' capital. In comparison, Nifty rose 23 percent during this period.

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