Moser Baer, the third largest recordable compact discs (CDRs) maker in the world, bettered expectation for its quarterly performance resulting in the scrip recovering from the recent lows. The scrip however closed lower at Rs 266.30, down by 3.86 per cent today on the BSE.
The scrip gained by 2.17 per cent to Rs 283 in the early hours of trading. It recorded a total volume of 4.73 lakh shares on BSE today.
Between April 15 and 22, the stock rose 12.6 per cent to Rs 277 from Rs 245.95 on expectations that the company would record exciting results.
In the afternoon today, the company came out with its fourth quarter as well as full year results. In the fourth quarter ended March 31, the company recorded a 38 per cent rise in net profit to Rs 84.98 crore on an 81 per cent increase in total income to Rs 360.76 crore.
The 38 per cent rise in net profit has soundly beaten analysts
