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Adhunik Industries zooms over 100% in six trading days

The stock is trading at its 52-week high of Rs 202, rallied 110% from Rs 95.65 on August 2, 2016.

SI Reporter  |  Mumbai 

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)

Adhunik Industries is locked in upper circuit for the sixth straight trading session, up 10% at Rs 202 on the BSE. The stock is trading at its 52-week high level, appreciating 110% from Rs 95.65 on August 2, 2016. The S&P BSE Sensex was down 0.50% during the same period.

Adhunik Industries on June 29, received approval from the National Stock Exchange of India Limited (NSE) for listing and admission for dealing of 46.73 million equity shares of Rs 10 each of the company under direct listing norms of NSE.

On the NSE, the stock is currently quoting at Rs 194, rallied 111% from Rs 92, since its listing on July 1.

Till 01:08 pm, a combined 66,543 shares changed hands and there were pending buy orders for 8,787 shares on the BSE and NSE.

The board of directors of the company engaged in iron & steel products business is scheduled to meet on Friday, August 12, 2016, to consider the un-audited financial results of the company for the quarter ended June 30, 2016 (Q1).

The company had reported a net profit of Rs 1.68 crore for the quarter ended March 2016, against net loss of Rs 3.55 crore in December 2015 quarter. It had posted profit of Rs 6.89 crore in March 2015 quarter.


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First Published: Wed, August 10 2016. 13:23 IST
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