The technical analyst from HDFC Securities expects the bias for the Nifty to remain positive as long as the NSE index holds above 15,704.
Demand for fibre optics, LAN and copper line cables increased as people working at home seek good internet, says CEO.
SES and Ingovern have accused the Pune-based company headed by Deepak Chhabria of taking its shareholders for a ride by violating many provisions of the Companies Act and Sebi norms
The company is eyeing at least Rs 500 crore revenue from its new consumer-facing electrical accessories business by the next fiscal.
Cords Cable Industries jumped 15.5%, Birla Cables (10.15%), Paramount Communications (8.94%), and ITI (4.4%) in intra-day trade
According to company filings, the firm was originally promoted by two brothers Pralhad Chhabria and Kishan Chhabria; both brothers being equal partners in the business
Players like Finolex Cables, Astral Poly Technik and Supreme Industries have, therefore, witnessed a sharp erosion in their profit margins in the quarter ended December 2018
The stock rallied 13% to Rs 345 after the company posted 77% YoY growth in profit at Rs 83 crore for Q4FY16.