15 stocks that hit new highs in today’s subdued market

November 16
07:26 2017
Vakrangee, Balkrishna Industries, VIP Industries, Graphite India, HEG, Minda Industries, Sterling Tools and Gulf Oil Lubricants were among 15 stocks from the S&P BSE500 and S&P BSE Smallcap index that hit their respective new highs on the BSE in intra-day trade.

At 01:44 PM; the S&P BSE Sensex was trading 0.13% lower at 32,989, after touching low of 32,914 in intra-day deal.

Sterling Tools was locked in upper circuit of 20% at Rs 301, after reported 62% growth in net profit at Rs 15 crore in the second quarter ended September 2017 (Q2FY18). The auto ancillary company had profit of Rs 9 crore in the same quarter year ago.

Gulf Oil Lubricants India surged 15% to Rs 1,010, extending its past one week 7% gain on the BSE. The oil marketing & distribution company has reported 38% jumped in net profit at Rs 40 crore in Q2FY18 on back of strong volume growth. Net sales grew 23% at Rs 323 crore over the previous year quarter.

“Company’s overall retail channel (including OEM dealerships) delivered double digit volume growth with positive signs of the trade getting confidence post Goods and Services Tax (GST) regime and improved demand conditions overall. The double digit volume growth and increase in revenues and margins was buoyed by the segments of personal mobility, OEM related businesses and industrial lubricants,” Gulf Oil Lubricants said in a release.

Balkrishna Industries and Vakrangee, too, extended their respective rallies after these companies announced bonus shares each in the ratio of 1:1 i.e. 1 bonus share for every 1 share held.

Related Articles