Shalimar Paints and Tata Metaliks have soared more than 13% each on back of huge volumes.
Shalimar Paints has surged 14% to Rs 635, with a combined 940,565 shares have already changed hands on the counter, against an average sub 400,000 shares that were traded daily in past two weeks on both the exchanges.
The stock has outperforming the market by gaining over 71%, compared with 3.5% fall in benchmark index, after reported a healthy 69% y-o-y growth in net profit at Rs 6 crore in March quarter. The operating profit margins of the paints maker has improved by 400 bps at 9.72%, while the net profit margin moved up by 133 bps at 4.07% during the recently concluded quarter
Tata Metaliks too, zoomed 19% at Rs 66.50, with around 300,000 shares changing hands on the counter so far, against an average less than 20,000 shares that were traded daily in last ten trading days on the NSE and BSE.
The Tata Group pig iron maker had allotted ten million shares of Rs 100 each to one of its promoters Tata Steel on preferential basis.