 "Bharat Bijlee hits 52-week high; surges over 50% post Q3 results")
Shares of Bharat Bijlee has moved higher to its 52-week high of Rs 1,022, up 5% on the BSE in otherwise range bound market.
The counter has seen huge trading volumes with a combined 93,998 shares changing hands till 10:31 am, against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
Since January 18, 2016, post October – December (Q3FY16) results, the stock has outperforming the market by surging 51% from Rs 676 as compared to 6% rise in the benchmark S&P BSE Sensex.
The company had reported a net profit of Rs 8.89 crore in Q3FY16 against net loss of Rs 4.09 crore in the corresponding quarter of previous fiscal. For the first nine months (April-December) of FY16, it posted net profit Rs 4.73 crore against loss of Rs 25.30 crore in the same period last year.
The board of directors of the company will meet on May 12, 2016 for adoption of annual accounts for the financial year 2015-16 and for recommendation of dividend on equity share, if any.
At 10:40 am, the stock was up 3% at Rs 1,001 on the BSE as compared to 0.23% decline in the benchmark S&P BSE Sensex.
Since January 18, 2016, post October – December (Q3FY16) results, the stock has outperforming the market by surging 51% from Rs 676 as compared to 6% rise in the benchmark S&P BSE Sensex.
The company had reported a net profit of Rs 8.89 crore in Q3FY16 against net loss of Rs 4.09 crore in the corresponding quarter of previous fiscal. For the first nine months (April-December) of FY16, it posted net profit Rs 4.73 crore against loss of Rs 25.30 crore in the same period last year.
The board of directors of the company will meet on May 12, 2016 for adoption of annual accounts for the financial year 2015-16 and for recommendation of dividend on equity share, if any.
At 10:40 am, the stock was up 3% at Rs 1,001 on the BSE as compared to 0.23% decline in the benchmark S&P BSE Sensex.
