Finolex Industries posts strong quarterly result; board recommends dividend of Rs 11.50 per share
The board of directors of Finolex Industries Ltd at its meeting held on May 26, 2017, have recommended a dividend of Rs 11.50 per share (115%) for the financial year 2016-2017.
The company on Friday reported a standalone net profit of Rs 123.26 crore for the quarter ended March 31, 2017, an increase of 50.32%, as against Rs 82 crore in the same quarter of the previous year, as per BSE filing.
Meanwhile, Finolex Industries is up by 3.6% at Rs 608.25 per share at 11:10 hours IST on BSE. It hit a high of Rs 624 and a low of Rs 605 so far.
Finolex Industries Limited is a manufacturer of polyvinyl chloride (PVC) pipes and fittings, and PVC resins.
Stock View :-
Finolex Industries Ltd is currently trading at Rs 608, up by Rs 21.1 or 3.6% from its previous closing of Rs 586.9 on the BSE.
The scrip opened at Rs 606 and has touched a high and low of Rs 624 and Rs 605 respectively. So far 78366(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 7283.43 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 617.7 on 17-May-2017 and a 52 week low of Rs 384.95 on 27-May-2016. Last one week high and low of the scrip stood at Rs 605.4 and Rs 530 respectively.
The promoters holding in the company stood at 52.47 % while Institutions and Non-Institutions held 13.01 % and 34.17 % respectively.
The stock is currently trading above its 50 DMA.
Finolex Industries Ltd :-
BSE 606.65 19.75 (3.37%)
NSE 607.15 19.55 (3.33%)
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