Fag Bearings India has soared 12% to Rs 1,125 after reporting robust 91% growth in net profit for the quarter ended March 2011.
The company posted a net profit of Rs 42.88 crore for January-March quarter, compared with Rs 22.47 crore in the same quarter last year. Net sales grew 30% to Rs 307 crore on y-o-y.
The stock opened at Rs 1,025 and hit lifetime high of Rs 1,155 on the NSE. A combined 30,000 shares have changed hands on the counter in morning deals.