NRB Bearings hits record high; soars 31% in 3 weeks on strong Q2 results

The stock hit a record high of Rs 200, up 6%, surpassed its previous high of Rs 193 touched on June 13, 2018, in intra-day trade.

Shares of NRB Bearings hit a record high of Rs 200 per share, up 6% on the BSE, gaining 31% in past three weeks after reporting a strong set of numbers for the quarter ended September (Q2FYIn). In comparison, the S&P BSE Sensex was up 4.5% during the same period. The stock surpassed its previous high of Rs 193 touched on June 13, 2018, in intra-day trade.

NRB Bearings posted 38% year-on-year (Y-o-Y) growth in net profit at Rs 291 million in Q2FY19, on improved overall sales. The operational revenue during the quarter grew 20% at Rs 2,510 million