Ashok Leyland, Shakti Pumps, Zydus Wellness, Jubilant Life hit 52-week high

Ashok Leyland, Shakti Pumps, Zyndus Wellness, Excel Industries, FDC, Jubilant Life Sciences, Polaris Consulting & Services, Hinduja Global Solutions and Inox Leisure have hit their respective 52-week highs on BSE on Thursday.

These stocks have trading higher by up to 19% today, extending their gain after reported a strong set of numbers for the quarter ended December 2017 (Q3FY18).

Excel Industries soared 19% to Rs 888 after specialty chemicals company reported a more than16-fold jump in net profit at Rs 196 million for Q3FY18. It had profit of Rs 12 million in year ago quarter.

Operational revenue grew 47% to Rs 1,468 million from Rs 998 million in previous year quarter.

Shares of packaged foods company Zydus Wellness surged 14% to Rs 1,197 after the company posted 44% year on year (YoY) growth in its consolidated net profit at Rs 361 million. Revenue from operations grew 22% at Rs 680 million on YoY basis.

Shakti Pumps (India) rallied 10% to Rs 615, extending its past four days 7% gain, after Portfolio Management Schemes of Old Bridge Capital Management on February 1, 2018 bought 81,434 shares representing 0.43% stake of the company through open market.

Post acquisition, total holding of Portfolio Management Schemes of Old Bridge Capital Management in Shakti Pumps increased to 5.3% from 4.87% earlier.

Ashok Leyland hit a new high of Rs 137, up 2%, extending its three days 9% surge, after the company reported more than doubled net profit at Rs 4.5 billion in Q3FY18 against Rs 1.62 billion in the same quarter year ago.

Commercial vehicle major Ashok Leyland unveiled its first electric bus, Circuit-S, with the swappable battery technology of Sun Mobility, at the AutoExpo 2018 on Wednesday, the Business Standard reported.

FDC hits a 52-week high of Rs 280, up 10% on BSE in early morning trade, extending its previous days 6% surge, after the company said that its board has approved the buyback proposal at a price of Rs 350 per equity share through tender offer.

“The board approved the buyback of 3.43 million equity shares of the Company at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 1,200 million from the equity shareholders of the Company on a proportionate basis through the "Tender Offer" route,” FDC said in a regulatory filing.

Ashok Leyland Limited