Finolex Cables, a market leader in electrical wires and cables, jumped on Friday after it disclosed a sharp rise in net profit for the quarter ended March 2014.
During the quarter, the profit of the company rose 78.86% to Rs 693.10 million from Rs 387.5 million in the same quarter previous year.
Net sales for the quarter rose marginally 2.68% to Rs 6,490.5 million, compared with Rs 6,321.3 million for the prior year period.
Shares of the company are trading at Rs 149.45, up Rs 9.9, or 7.09% at the Bombay Stock Exchange (BSE) on Friday at 11:07 a.m.
The scrip has touched an intra-day high of Rs 152.15 and low of Rs 141.85. The total volume of shares traded at the BSE is 556,584.
In the earlier session, the shares rose 10.06%, or Rs 12.75, at Rs 139.55. Currently, the stock is trading all time 52-week high, which is above 217.98% over the 52-week low of Rs 47.