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Finolex Cables Gains 11%; BSE CAPITAL GOODS Index Up 0.7%
Mon, 23 Sep 15:14

Finolex Cables Gains 11%; BSE CAPITAL GOODS Index Up 0.7%Image source: StarLineArts/www.istockphoto.com

Finolex Cables share price has zoomed 11% and is presently trading at Rs 1,531.7.

Meanwhile, the BSE CAPITAL GOODS index is at 73,881.1 (up 0.7%).

Among the top gainers in the BSE CAPITAL GOODS index today are Lakshmi Machine (up 4.7%) and Bharat Electronics (up 3.2%).

Thermax (down 2.5%) and TIMKEN INDIA (down 2.1%) are among the top losers today.

Over the last one year, Finolex Cables has moved up from Rs 1,090.9 to Rs 1,531.7, registering a gain of Rs 440.8 (up 40.4%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 46,903.1 to 73,881.1, registering a gain of 57.5% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 122.5%), BHEL (up 121.7%) and Bharat Electronics (up 109.1%).

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What About the Benchmark Indices?

The BSE Sensex is at 84,944.4 (up 0.5%).

The top gainers among the BSE Sensex today are M&M (up 3.3%) and SBI (up 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and ICICI Bank.

In the meantime, NSE Nifty is at 25,951.1 (up 0.6%). M&M and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,944.4, registering a gain of 18,143.5 points (up 27.2%).

Finolex Cables Financial Update...

Finolex Cables net profit fell 29.4% YoY to Rs 882 million for the quarter ended June 2024, compared to a profit of Rs 1,249 million a year ago. Net sales rose 2.2% to Rs 12,305 million during the period as against Rs 12,043 million in April-June 2023.

For the year ended March 2024, Finolex Cables reported 29.2% increase in net profit to Rs 6,517 million compared to net profit of Rs 5,043 million during FY23. Revenue of the company grew 11.9% to Rs 50,144 million during FY24.

The current Price to earnings ratio of Finolex Cables, based on rolling 12 month earnings, stands at 50.0.


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