V-Guard Industries surges on 2:5 bonus issue; good Q3 results

The stock surged 8% to Rs 208 on the BSE in an otherwise weak market

V-Guard Industries has surged 8% to Rs 208 on the BSE in early morning trade in an otherwise weak market after the board recommended the issue of bonus shares in the ratio of 2:5 (two shares for every five shares held).

The company engaged in consumer electrical and electronics business has reported 30% year on year (YoY) jump in net profit at Rs 28 crore for the quarter ended December 2016 (Q3FY17). Net revenue increased 10% at Rs 460 crore on YoY basis.

“Demonetization had some impact on some product segment and sales growth of some of the