Hot Pursuit     07-May-12
Finolex Cables drops on profit taking
Finolex Cables fell 0.98% to Rs 35.25 at 14:03 IST on BSE, with the stock sliding on profit booking after Friday's 5.63% rally triggered by the company reporting stellar Q4 earnings.

Meanwhile, the BSE Sensex was down 179.33 points or 1.07% to 16,651.75.

On BSE, 52,000 shares were traded in the counter as against average daily volume of 37,651 shares over the past one quarter.

The stock hit a high of Rs 36.25 and a low of Rs 34.05 so far during the day. The stock had hit a 52-week low of Rs 21 on 13 December 2011. The stock had hit a 52-week high of Rs 54 on 29 July 2011.

The small-cap stock had outperformed the market over the past one month till 4 May 2012, surging 9.04% compared with the Sensex's 3.75% fall. The scrip had also outperformed the market in past one quarter, rising 4.86% as against Sensex's 4.4% fall.

The company has an equity capital of Rs 30.59 crore. Face value per share is Rs 2.

The Finolex Cables stock had surged 5.63% to settle at Rs 35.60 on Friday, 4 May 2012, after the company announced strong Q4 earnings after market hours on Thursday, 3 May 2012.

Finolex Cables' net profit surged 138.5% to Rs 44.56 crore on 12.2% growth in net sales to Rs 596.73 crore in Q4 March 2012 over Q4 March 2011. Net profit rose 13.1% to Rs 98.19 crore on 1.5% growth in net sales to Rs 2038.47 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

Finolex Cables makes electrical and communication cables.

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