Borosil Extends Rally For Third Day, Gains Over 11% In Three Sessions
Borosil Ltd. continued to rise for the third consecutive session on Wednesday, marking an intraday gain of 6.64%.
The stock has risen over 11% in three trading sessions. On Monday, it rose 4.67% at intraday to trade at Rs 357, similarly, on Tuesday, it rose nearly 7% to trade at Rs 375.95 apiece.
The stock has gained over 10% in three months , 11.26% in one month, however it has fallen nearly 23% year-to-date.
Earlier in August, the company reported that its consolidated net profit surged 87% during the quarter ended June for the current financial year.
The company's net profit rose to Rs 17.41 crore during the April-June period, compared to Rs 9.29 crore for the same period last year.
The company reported a 12% year-on-year increase in Ebitda, which rose to Rs 37.32 crore from Rs 33.4 crore. Operating margins also improved, climbing to 16% compared to 15.1% in the same period last year.
The scrip rose as much as 6.52% to Rs 397.95 apiece. It pared gains to trade 1.93% higher at Rs 380.80 apiece, as of XXX p/a.m. This compares to a 0.35% decline in the NSE Nifty 50 Index.
It has fallen 6.41% in the last 12 months. Total traded volume so far in the day stood at 47 times its 30-day average. The relative strength index was at 74.
All the four analysts that are tracking the company, maintain a 'buy' rating, and none recommend a 'hold,' or suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.1%
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