Share price of Polycab India and PI Industries rose more than 7 percent intraday on October 24, both hitting 52-week high on the back of better Q2FY20 results.
PI Industries touched Rs 1,448.80 after the company reported 30 percent jump in its September quarter net profit at Rs 122.8 crore against Rs 94.4 crore, while revenue was up 25.5 percent at Rs 907.4 crore versus Rs 723 crore, YoY.
Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 42.6 percent at Rs 191.9 crore, while EBITDA margin was up 250 bps at 21.1 percent.
Polycab India touched 52-week high of Rs 837 after the company's the September quarter net profit was up 116 percent at Rs 193.7 crore against Rs 89.5 crore
Revenue was up 23.7 percent at Rs 2,241.9 crore versus Rs 1,811.8 crore, YoY.
At 1455 hours, Polycab India was quoting at Rs 824, up Rs 41.85, or 5.35 percent, and PI Industries was quoting at Rs 1,430.00, up Rs 97.80, or 7.34 percent, on the BSE. Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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