Finolex Cables gained 2.91% to Rs 90.10 at 15:18 IST on BSE, with the stock extending Wednesday's gain triggered by the company winning an advance purchase order.
Meanwhile, the BSE Sensex was up 29.02 points, or 0.14%, to 21,366.69
On BSE, so far 2.29 lakh shares were traded in the counter, compared with an average volume of 1.79 lakh shares in the past one quarter.
The stock hit a high of Rs 90.40 and a low of Rs 88.15 so far during the day. The stock hit a 52-week high of Rs 92.10 on 6 January 2014. The stock hit a 52-week low of Rs 41.25 on 22 March 2013.
The stock had outperformed the market over the past one month till 22 January 2014, rising 8.15% compared with the Sensex's 1.22% rise. The scrip had also outperformed the market in past one quarter, advancing 47.76% as against Sensex's 2.27% rise.
The small-cap company has an equity capital of Rs 30.59 crore. Face value per share is Rs 2.
Shares of Finolex Cables gained 7.51% in two trading days from Rs 83.80 on 21 January 2014 after the company said it won an advance purchase order of over Rs 200 crore for metal free optical fibre cable of the national optic fibre network backbone project. The company made the announcement after trading hours on Tuesday, 21 January 2014.
The national optic fibre network backbone project is targeted at providing connectivity to over 2.5 lakh gram panchayats across the country for better e-governance, e-health services, and educational services to the people of India, Finolex Cables said in a statement.
Finolex Cables' net profit rose 39.2% to Rs 79.98 crore on 1.4% rise in net sales to Rs 587.45 crore in Q2 September 2013 over Q2 September 2012.
Finolex Cables, the flagship company of the Finolex Group, is India's largest and leading manufacturer of electrical and telecommunication cables.
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