 "Birla Corporation nears lifetime high as Q1 profit doubles")
Birla Corporation has moved higher by 6% to Rs 445, bouncing back 12% from intra-day low on National Stock Exchange (NSE), after its net profit more-than-doubled to Rs 100 crore during the quarter ended June 30, 2014 (Q1), on back of strong operational performance. The cement and cement products maker had registered a profit of Rs 46 crore in the same quarter year ago.
The operational income of the company during the quarter under review grew 11.2% at Rs 875 crore and other income by 61% to Rs 42 crore over the previous year quarter. Total expenses however, grew 4.8% at Rs 770 crore on year-on-year basis.
The stock opened at Rs 396 and hit a high of Rs 473 on NSE. The stock touched a lifetime high of Rs 484 in March 1992.
The counter has seen huge trading volumes with a combined 1.08 million shares changed hands so far, as against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.
The operational income of the company during the quarter under review grew 11.2% at Rs 875 crore and other income by 61% to Rs 42 crore over the previous year quarter. Total expenses however, grew 4.8% at Rs 770 crore on year-on-year basis.
The stock opened at Rs 396 and hit a high of Rs 473 on NSE. The stock touched a lifetime high of Rs 484 in March 1992.
The counter has seen huge trading volumes with a combined 1.08 million shares changed hands so far, as against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.