Adani Power, Jindal Stainless, Vadilal Industries hit 52-week highs

Vadilal Industries and Filatex India surged more than 10% on back of heavy volumes.

Shares of Adani Power, Jindal Stainless (JSL), Bombay Dyeing & Manufacturing Company, Vadilal Industries and Filatex India have hit their respective 52-week highs in  an otherwise weak market on back of heavy volumes on Tuesday.

Filatex India zoomed 19% to Rs 96.50, extending its Monday’s 20% rally on BSE. The trading volumes on the counter surged multiple fold with a combined 3.76 million shares representing 8.6% of total equity of textiles company changed hands on BSE and NSE till 12:11 pm.

Vadilal Industries surged 13% to Rs 792 on back of 10-fold jump in trading volumes. A combined 701,018 shares changed hands on both the exchanges so far.

In past one month, the stock outperformed the market by gaining 35% after reported a 33.8% year on year growth in net profit for the first nine months (April-December) of current financial year 2017. On comparison, the S&P BSE Sensex was up 2.2% during the period.

The company said higher net profit growth was on account higher ice cream sales leading to better utilization levels, improved product mix and lower finance costs.

“The company is now reaping benefits of substantial investments in capacity, technology, brand and distribution. As volumes enhance, existing capacity gets utilized more efficiently and margins which were depressed in the past are improving,” Vadilal Industries said while announcing December quarter results.

Adani Power rallied 7% to Rs 41.30, extending its 5% gain in past three trading sessions, after the company allotted 40.99 million equity shares of Rs 10 each (with a premium of Rs 22.54 per equity share) upon partial conversion of the convertible warrants as earlier issued and allotted on preferential basis to promoter group entities.

Adani Group Company engaged in electric utilities business on March 1 claimed that its thermal unit at its 4,620 MW Mundra power plant had created a national record by running continuously for 600 days and generating 4,142.56 units of electricity.

The trading volumes on the counter jumped by three-fold with a combined 20.99 million shares changed hands on both the exchanges.

JSL hit a fresh 52-week high of Rs 62.10, up 6% on BSE, with an over eight-fold jump in trading volumes. A combined 5.42 million shares of the company changed hands on both the exchanges till noon deal.

Since February 27, in past seven trading sessions, the stock rallied 22% after the company allotted 19.2 million compulsory convertible warrants (CCW) at Rs 39.10 per CCW to Virtuous Tradecorp Private Limited, a promoter group, on preferential basis. Thus far in 2017, the stock zoomed 65% against 9% rise in the benchmark index.

The company had reported 400 basis points expansion in EBITDA (earnings before interest, tax, depreciation & amortization and other income) margin at 16.3% for the quarter ended December 2016.

The improvement in the EBITDA is outcome of the various steps taken by the company like change in the product mix, better operational efficiencies and improvement in yields, JSL said.

The S&P BSE Sensex was trading 0.26% lower at 28,974 points at 12:30 pm.

COMPANY	LATEST	52 WK HIGH	PREV HIGH	PREV DATE	VOLUME
ADANI POWER	40.30	41.30	39.35	27-Feb-17	2947911
AVANTI FEEDS	699.85	713.85	710.00	06-Mar-17	5003
BOMBAY DYEING	61.90	63.85	62.90	19-Oct-16	1449161
DHAMPUR SUGAR	226.60	234.50	231.90	06-Mar-17	182916
D-LINK INDIA	142.90	147.55	146.00	01-Mar-17	315312
ESCORTS	502.45	504.90	494.30	06-Mar-17	392986
GEOJIT FIN. SER.	45.50	46.75	45.00	06-Mar-17	43165
HATSUN AGROPROD.	469.00	475.00	475.00	02-Mar-17	90
ICICI PRU LIFE	366.25	372.50	371.50	02-Mar-17	102614
JINDAL SAW	83.25	83.80	83.40	02-Mar-17	237768
JINDAL STAIN .HI	122.95	123.40	122.00	06-Mar-17	39355
JINDAL STAIN.	61.25	62.10	61.85	02-Mar-17	2216978
K P R MILL LTD	642.00	649.00	648.00	06-Mar-17	5675
KIRLOSKAR OIL	398.05	400.65	398.00	06-Mar-17	13727
KWALITY	163.00	164.75	164.20	06-Mar-17	198348
LAK. VILAS BANK	168.30	170.85	169.85	06-Mar-17	103911
NATL. ALUMINIUM	77.90	79.85	79.85	06-Mar-17	279376
RELIANCE INDS.	1299.30	1326.75	1309.90	06-Mar-17	455375
SHARDA MOTOR	1539.00	1588.50	1574.00	06-Mar-17	1119
TRIDENT	76.85	78.30	77.25	06-Mar-17	172602
VADILAL INDS.	786.40	798.35	766.00	26-Apr-16	144808
V-GUARD INDS.	249.95	261.00	248.40	06-Mar-17	304275