 "Himatsingka Seide extends rally on robust Q1 results")
Himatsingka Seide has surged 10% to Rs 151, extending its previous day’s 15% rally on the NSE, after the company nearly doubled its net profit at Rs 40.79 crore for the quarter ended on June 30, 2015 (Q1), on the back of strong operational performance.
The textiles company had reported a net profit of Rs 21.11 crore for the corresponding period a year ago.
Net sales of the company declined by 8.7% at Rs 451 crore in the quarter under review compared with Rs 494 crore in the year-ago period. Total expenditure fell by 12% at Rs 404 crore over the previous year's corresponding quarter.
The stock hit a 52-week high of Rs 152 in intra-day trade today, appreciating almost 100% in the past one-and-half months from Rs 76 on June 12, as compared with a 7% rise in the CNX Nifty.
Till 11:57 AM, a combined 5.34 million shares changed hands on the counter on the NSE and BSE.
The textiles company had reported a net profit of Rs 21.11 crore for the corresponding period a year ago.
Net sales of the company declined by 8.7% at Rs 451 crore in the quarter under review compared with Rs 494 crore in the year-ago period. Total expenditure fell by 12% at Rs 404 crore over the previous year's corresponding quarter.
The stock hit a 52-week high of Rs 152 in intra-day trade today, appreciating almost 100% in the past one-and-half months from Rs 76 on June 12, as compared with a 7% rise in the CNX Nifty.
Till 11:57 AM, a combined 5.34 million shares changed hands on the counter on the NSE and BSE.