Kwality Dairy shares rise on value buy
Brokers believe investors may have been value-buying in the company, which posted robust numbers in the third quarter on the back of growing demand for its products.
By ET Bureau | Updated:
Shares of Kwality Dairy rose sharply amid hectic activity in the counter on Tuesday. Brokers believe investors may have been value-buying in the company, which posted robust numbers in the third quarter on the back of growing demand for its products.
The stock jumped over 19% to Rs 143.3 with the counter attracting significantly higher volumes in a weak market on Tuesday. Over 23 lakh shares changed hands, compared with the daily average volume of 8 lakh shares in the past two weeks on the BSE.
Kwality’s posted healthy earnings in the October-December quarter, recording a 54% rise in sales and more than three-fold jump in net profit on a Y-o-Y basis. The stock has rallied 30% in the past one month.
Contributed by Vijay Gurav
The stock jumped over 19% to Rs 143.3 with the counter attracting significantly higher volumes in a weak market on Tuesday. Over 23 lakh shares changed hands, compared with the daily average volume of 8 lakh shares in the past two weeks on the BSE.
Kwality’s posted healthy earnings in the October-December quarter, recording a 54% rise in sales and more than three-fold jump in net profit on a Y-o-Y basis. The stock has rallied 30% in the past one month.
Contributed by Vijay Gurav
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