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Finolex Industries share price rises in early trade as Q2 profit jumps 20% to Rs 122 crore

Net profit of Finolex Industries jumped 20.1 percent to Rs 122.83 crore in the quarter ended September 2020 as against Rs 102.27 crore during the previous quarter ended September 2019.

October 27, 2020 / 10:09 AM IST
 
 
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Finolex Industries share price jumped over 4 percent in the morning sesssion on October 27 after the company declared its September quarter results. Net profit of Finolex Industries jumped 20.1 percent to Rs 122.83 crore in the quarter ended September 2020 as against Rs 102.27 crore during the previous quarter ended September 2019.

Sales of the company was up 1.58 percent to Rs 585.78 crore in the quarter ended September 2020 as against Rs 576.67 crore during the previous quarter ended September 2019.

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The stock was trading at Rs 554.45, up Rs 22.35, or 4.20 percent at 09:24 hours. It has touched an intraday high of Rs 579.00 and an intraday low of Rs 549.10.

The Board of Directors of the Company at its meeting held on October 26, 2020 appointed Ashutosh B. Kulkarni as Company Secretary, Compliance Officer and Key Managerial Personnel of the Company with immediate effect.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. It has zero promoter pledge with FII / FPI or institutions increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
Moneycontrol News
first published: Oct 27, 2020 10:09 am

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