Shares of Finolex Industries are the highest they've been in 10 months. Know why
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Shares of Finolex Industries Ltd., a maker of Finolex said its first quarter Net Profit rose 40 percent to 70.2 crore rupees compared with 50.2 crore rupees in the same quarter a year ago. Sales during April-June fell 4.4 percent to 633.4 crore rupees from 662.7 crore rupees in the year ago period.
Finolex rose 13 rupees, or 5 percent to 298 rupees, its highest since Nov 13th, on the National Stock Exchange, where 7.22 lakh shares were traded by 2:40 pm compared with the 5-day average of 46,000 shares.
Finolex's market capitalisation has risen 13 percent in the past one year to 3,770 crore rupees.
Image credit: Indiatimes
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