Forbes & Co hits record high; soars 107% in seven sessions

19 Aug 2022 , 09:58 AM

Shares of Forbes & Company have surged 106.75% in seven sessions. The gains followed the company reporting turnaround Q1 result on 13 August 2022. Forbes & Company reported consolidated net profit of Rs 145.78 crore in Q1 June 2022 as against net loss of Rs 4.34 crore in Q1 June 2021. Net sales declined 6.36% to Rs 121.85 crore in Q1 June 2022 over Q1 June 2021. The board has proposed special interim dividend of Rs 65 per share for the financial year 2022-23. The record date is set on 25 August 2022. Forbes & Company is involved in three main areas: engineering, real estate and business of developing payment processing and transaction automation solutions. On the BSE, 72,311 shares were traded in the counter so far compared with average daily volumes of 91,651 shares in the past two weeks. The stock hit a low of Rs 802.25 in early trade today. The stock is currently frozen at its record high level. The stock hit a 52-week low of Rs 212.02 on 18 August 2021. The stock had outperformed the market over the past one month, rising 110.19% compared with 10.22% rise in the Sensex. The scrip outperformed the market in past one quarter, jumping 114.82% as against Sensexs 14.34% rise. The scrip had also outperformed the market in past one year, soaring 302.58% as against Sensexs 8.51% rise. Powered by Capital Market – Live News