Stock of this auto ancillary company has doubled in just 5 months

Shares of Fiem Industries hit a new high at Rs 2,024.95, and have rallied 22% in the past two days after the company reported 54% YoY jump in its consolidated net profit.

Shares of Fiem Industries continued their northward movement, clocking a new high at Rs 2,024.95 - up 11 per cent on the BSE in Monday’s intra-day trade. In the past two trading sessions, the stock of the auto ancillary company has soared 22 per cent after it reported 54 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 40.77 crore for the quarter ended September 2022 (Q2FY23). Consolidated net sales grew 25 per cent YoY to Rs 521 crore.

In the past five months, the stock price of Fiem Industries has doubled from a level of