Brokerage firm YES Securities had expected net profit growth of 32.7 per cent and revenue growth of 14.6 per cent in Q3, driven by execution of refinery order and recovery in housing wires.
has current order book of Rs 4,173 crore plus L1 Rs 316 crore. The company is expected to achieve growth in the current FY20 by 18-19 per cent.
Meanwhile, on December 17, the company informed the exchanges that its board had approved raising funds in one or more tranches, by the way of qualified institutional placements (QIPs) for an amount not more than Rs 1,000 crore.
The revenue growth across the business segments within cables, pricing action, volume growth, performance of retail & industrial cable business, execution in the EPC business and key reasons for fundraising.
Since December 17, the stock has outperformed the market by surging 26 per cent, as compared to 1 per cent rise in the S&P BSE Sensex. It touched an all-time high of Rs 615 on October 30, 2019.