Shares of Innova Captab Ltd. jumped to record high since listing on Dec. 29 after its profit jumped in the second quarter.
The company's consolidated net profit rose 22.5% to Rs 22.9 crore in the quarter ended September 2023, according to an exchange filing.
Innova Captab Q2 Results Highlights (Consolidated, YoY)
Revenue up 16.8% at Rs 282.9 crore.
Ebitda up 29.5% at Rs 40.4 crore.
Margin at 14.28% vs 12.88%.
Net profit up 22.5% at Rs 22.9 crore.
Shares of the company rose 13.64% to Rs 590 apiece, the highest level since listing. It pared gains to trade 5.37% higher at Rs 545 apiece as of 10:33 a.m. This compares to a 0.94% advance in the NSE Nifty 50 Index.
The stock has risen 22.10% from listing date. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 70.54, indicating that the stock may be overbought.
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