Somany Ceramics was locked in 20% upper circuit at Rs 84.65 on the Bombay Stock Exchange on back of heavy volumes on 12:20pm on Monday.
A combined 686,844 shares had already changed hands on the counter against an average around 150,000 shares that were traded daily in past two weeks. There were pending buy orders for 150,785 shares on the BSE and NSE.
The stock has rallied 44% in the past three trading sessions from Rs 58.85 as the tiles maker reported 39% year-on-year growth in its net profit at Rs 8.02 crore for the quarter ended September 2012 mainly on value added products. Net sales grew 24% at Rs 257 crore on y-o-y basis.
“The company's launch of 80x80 cm and 60x120 cm GVT tile will also add significantly to the value added segment in the coming quarters,” the PTI report suggests quoting Abhishek Somany, joint managing director of the company
