V-Guard Industries up 7% on bonus, robust Q3 numbers

Moneycontrol BureauShares of V-Guard Industries gained nearly 7 percent intraday Tuesday on bonus share recommendation and strong Q3 numbers.The company at its meeting held on January 30, has recommended the issue of bonus shares by way of capitalization of reserves in the ratio of 2:5 to the members, subject to approval of members and stock exchanges.The board has also considered the commencement of commercial production of stabilizers and electric water heaters in March 2017 at the new manufacturing facilities set up at Sikkim.The company has recorded 30 percent jump in its Q3 (Oct-Dec) net profit at Rs 27.95 crore against Rs 21.48 crore in the same period last year.At 10:55 hrs V-Guard Industries was quoting at Rs 202.40, up Rs 9.25, or 4.79 percent on the BSE.Posted by Rakesh Patil