Jindal Poly Films hits 52-week high after strong Q1 earnings

capital market | Mumbai |

Jindal Poly Films surged 8.17% to Rs 378.70 at 12:27 IST on BSE after net profit jumped 118.5% to Rs 107.09 crore on 8.1% growth in net sales to Rs 720.39 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 13 August 2015.

Meanwhile, the S&P BSE Sensex was up 356.11 points or 1.29% at 27,905.64.

The stock surged on heavy volumes. On BSE, so far 3.49 lakh shares were traded in the counter as against average daily volume of 41,958 shares in the past one quarter.

The stock hit a high of Rs 391 so far during the day,which is a 52-week high for the counter. The stock hit a low of Rs 366 so far during the day. The stock had hit a 52-week low of Rs 169 on 25 March 2015.

The stock had outperformed the market over the past one month till 13 August 2015, surging 24.95% compared with Sensex's 1.47% fall. The scrip had also outperformed the market in past one quarter, jumping 20.89% as against Sensex's 1.1% rise.

The small-cap company has equity capital of Rs 42.05 crore. Face value per share is Rs 10.

Jindal Poly Films is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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