Godrej Industries has surged in trades after posting better-than-expected numbers for the quarter ending December 2012.
The company's net profit has zoomed 360% to Rs 131.37 crore for the quarter ending December 2012, as against Rs 28.51 crore reported in the corresponding quarter a year ago. However, total income has decreased 2.3% to Rs 346.11 crore from Rs 354.47 crore in the same period.
Moreover, the board has approved allotment of 62,342 equity shares of face value Re. 1/- each, which have been allotted pursuant to exercise of options by the option grantees during the exercise period in terms of GIL ESGS. The company has also announced the appointment of Nitin S Nabar as an Executive Director & President (Chemicals) of the Company, with effect from May 01, 2013.
The stock opened at Rs 305 an gradually gained after announcing the quarterly numbers. Shares of Godrej touched a high of Rs 308.40 and is now up 1.5% at Rs 306. The counter has seen hefty trade volumes - 86,000 shares have already been traded on the BSE, as against a two week daily traded average of 58,000 shares.
