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LG Balakrishnan share price jumps 4% on surge in volumes

The company's sales were up 1.22 percent to Rs 417.01 crore in the quarter ended September 2020 as against Rs 411.97 crore in the year-ago period.

October 27, 2020 / 10:23 AM IST
 
 
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LG Balakrishnan and Brothers share price gained 4 percent intraday on October 27 after the company declared its September quarter results.

Net profit of LG Balakrishnan fell 23.72 percent to Rs 27.82 crore in the quarter ended September 2020 as against Rs 36.47 crore during the same quarter last year.

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The company's sales were up 1.22 percent to Rs 417.01 crore in the quarter as against Rs 411.97 crore in the year-ago period.

The stock witnessed a spurt in volume by more than 1.55 times and was trading with volumes of 4,364 shares, compared to its five day average of 3,774 shares, an increase of 15.65 percent.

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The scrip was trading at Rs 257.05, up Rs 7.80, or 3.13 percent at 1001 hours. It has touched an intraday high of Rs 265.00 and an intraday low of Rs 250.10.

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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 experts on moneycontrol.com are their own and not those 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 10:23 am

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