Vakrangee, Petronet LNG hit new highs; Page Industries crosses Rs 22,000

Page Industries, Vakrangee, Petronet LNG, ITD Cementation, Larsen & Toubro Infotech, Rain Industries and Indian Bank were among 15 stocks from the S&P BSE 500 index hitting their respective new highs on the BSE in an otherwise subdued market. These companies have reported a good set of numbers for the quarter ended September 2017 (Q2FY18).

Page Industries hit a new high crossing Rs 22,000 mark of Rs 22,471, up 9% on the BSE, after it posted 22% year on year (y-o-y) growth in net profit at Rs 84 crore in Q2FY18, on the back of higher revenues and lower raw material cost.

The company engaged in the business of manufacturing, distribution and marketing of garments had profit of Rs 69 crore in the same quarter last fiscal.

Revenues from operations during the quarter grew 17% at Rs 626 crore against Rs 535 crore in the corresponding quarter of previous year. Raw materials cost declined 6% to Rs 189 crore from Rs 201 crore in previous year quarter. EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved to 20.5% in Q2FY18 from 20.0% in Q2FY17.

The board has declared 2nd interim dividend for the year 2017-18 of Rs 35 per equity share. It fixed as November 17, 2017 as the record date for the payment of interim dividend.

Petronet LNG too hit record high of Rs 275, up 6% on the BSE, after the company posted a 28% y-o-y increase in Q2FY18 net profit to Rs 589 crore against Rs 460 crore in the same quarter last fiscal. Operational revenue grew 17% at Rs 7,770 crore against Rs 6,614 crore. EBIDTA margin improved to 11.6% from 10.98%.

Vakrangee rallied 6% at Rs 586, ahead of its board meeting next week to consider bonus issue and Q2 results. In past four trading sessions, the stock gained 11% after the company said that its board will meet on November 13, 2017 to consider issue of bonus shares.

Earlier in 2012, the company had issued bonus shares in the ratio of 1:1 i.e. 1 (one) bonus equity share for every 1(one) existing equity share held by the shareholders as on the "Record date".

3M INDIA 15760.00 16395.00 16355.10 06-Nov-17
BHARAT FORGE 718.40 749.00 737.80 08-Nov-17
BRITANNIA INDS. 4718.00 4794.70 4769.20 30-Oct-17
CERA SANITARY. 3391.40 3425.00 3420.00 04-Oct-17
ESSEL PROPACK 288.00 295.00 290.00 06-Nov-17
GULF OIL LUBRIC. 872.00 901.85 900.00 22-Jun-17
HEXAWARE TECH. 343.00 344.90 344.25 07-Nov-17
HSIL 468.00 484.35 477.00 10-Oct-17
INDIAN BANK 397.05 401.35 384.40 06-Nov-17
ITD CEM 201.25 212.80 196.00 07-Nov-17
L & T INFOTECH 950.40 965.00 885.95 08-Nov-17
PAGE INDUSTRIES 22250.00 22470.90 21496.75 03-Nov-17
PETRONET LNG 272.10 275.45 275.20 24-Oct-17
RAIN INDUSTRIES 364.25 373.90 351.50 08-Nov-17
VAKRANGEE 581.45 586.35 566.10 01-Nov-17

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